McKesson Co. (MCK) To Go Ex-Dividend on December 2nd

McKesson Co. (NYSE:MCK) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Shareholders 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 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, December 2nd.

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 17 consecutive years. McKesson has a dividend payout ratio of 8.0% meaning 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 Performance

Shares of NYSE:MCK opened at $526.61 on Friday. The firm has a fifty day moving average price of $512.00 and a 200 day moving average price of $550.24. McKesson has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a market cap of $68.29 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $82.53 billion. During the same quarter in the prior year, the business earned $7.27 earnings per share. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts predict that McKesson will post 31.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $610.86.

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.