McKesson Co. (NYSE:MCK – Get 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.
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
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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