McKesson Co. (NYSE:MCK) Plans Quarterly Dividend of $0.62

McKesson Co. (NYSE:MCK) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 0.62 per share on Monday, July 1st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%.

McKesson has increased its dividend by an average of 11.8% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. McKesson has a dividend payout ratio of 7.0% meaning its dividend is sufficiently covered by earnings. Analysts expect McKesson to earn $31.06 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 8.0%.

McKesson Stock Performance

Shares of NYSE:MCK opened at $535.56 on Thursday. McKesson has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The business has a 50-day simple moving average of $526.81 and a two-hundred day simple moving average of $488.48. The firm has a market cap of $70.38 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm earned $6.90 EPS. McKesson’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts predict that McKesson will post 27.59 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Citigroup boosted their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Company Profile

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.