McKesson Corporation (MCK) To Go Ex-Dividend on September 1st

McKesson Corporation (NYSE:MCK) announced a quarterly dividend on Tuesday, July 21st. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.94 per share on Thursday, October 1st. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 14.6% increase from McKesson’s previous quarterly dividend of $0.82.

McKesson has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 17 years. McKesson has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect McKesson to earn $49.81 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 7.5%.

McKesson Trading Up 0.6%

McKesson stock opened at $895.59 on Friday. McKesson has a 12-month low of $679.65 and a 12-month high of $999.00. The firm has a market capitalization of $104.42 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.76 and a beta of 0.30. The firm has a 50 day moving average of $833.31 and a 200 day moving average of $844.13.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the firm earned $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts predict that McKesson will post 44.65 EPS for the current year.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,111 shares of company stock valued at $18,011,274 over the last quarter. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter valued at approximately $26,000. Delos Wealth Advisors LLC bought a new position in shares of McKesson during the 2nd quarter valued at approximately $27,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. purchased a new stake in McKesson during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.