McKesson Corporation (NYSE:MCK) Plans $0.82 Quarterly Dividend

McKesson Corporation (NYSE:MCK) announced a quarterly dividend on Wednesday, January 28th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.82 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd.

McKesson has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 17 consecutive years. McKesson has a dividend payout ratio of 7.8% meaning its dividend is sufficiently covered by earnings. Analysts expect McKesson to earn $36.64 per share next year, which means the company should continue to be able to cover its $3.28 annual dividend with an expected future payout ratio of 9.0%.

McKesson Stock Performance

Shares of McKesson stock traded down $8.00 during mid-day trading on Wednesday, hitting $826.18. 429,080 shares of the stock were exchanged, compared to its average volume of 566,784. McKesson has a 12 month low of $570.51 and a 12 month high of $895.58. The company has a 50-day simple moving average of $829.92 and a 200 day simple moving average of $772.05. The company has a market capitalization of $101.98 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.McKesson’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $7.07 earnings per share. Analysts predict that McKesson will post 32.77 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on MCK. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Barclays began coverage on McKesson in a research note on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective on the stock. Robert W. Baird set a $968.00 target price on shares of McKesson in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. Finally, Evercore ISI restated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $895.79.

McKesson Company Profile

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.