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

McKesson Co. (NYSE:MCK - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders 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 dividend yield of 0.46%.

McKesson has raised its dividend payment by an average of 11.8% annually over the last three years and has raised its dividend every year for the last 16 years. McKesson has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.7 %

NYSE:MCK traded up $3.55 during mid-day trading on Wednesday, reaching $535.56. 418,139 shares of the company were exchanged, compared to its average volume of 687,556. McKesson has a 12 month low of $352.34 and a 12 month high of $543.00. The stock has a market cap of $70.38 billion, a PE ratio of 24.27, a PEG ratio of 1.43 and a beta of 0.45. The company has a fifty day moving average of $526.81 and a 200 day moving average of $488.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.90 earnings per share. On average, equities research analysts anticipate that McKesson will post 27.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an "outperform" rating and a $600.00 price objective on the stock. Mizuho upped their target price on shares of McKesson from $450.00 to $505.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Finally, StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $533.50.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated 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 approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate 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.