McKesson Co. (NYSE:MCK) to Issue Quarterly Dividend of $0.71

McKesson Co. (NYSE:MCKGet Free Report) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.71 per share on Thursday, January 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%.

McKesson has increased its dividend payment by an average of 11.8% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. McKesson has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McKesson to earn $35.22 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 8.1%.

McKesson Stock Up 0.2 %

Shares of MCK stock opened at $500.10 on Thursday. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.18 and a beta of 0.44. The stock has a fifty day moving average of $513.72 and a 200 day moving average of $550.56. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCKGet Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the company posted $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson will post 31.91 earnings per share for the current year.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Evercore ISI decreased their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 target price (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $610.86.

Check Out Our Latest Stock Analysis on MCK

About McKesson

(Get Free Report)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.

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Dividend History for McKesson (NYSE:MCK)

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