McKesson Co. (NYSE:MCK – Get Free Report) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Shareholders of record on Friday, March 1st will be given a dividend of 0.62 per share on Monday, April 1st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, February 29th.
McKesson has raised its dividend payment by an average of 11.8% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. McKesson has a payout ratio of 7.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McKesson to earn $31.00 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
NYSE MCK opened at $519.31 on Tuesday. The firm’s fifty day moving average price is $486.78 and its two-hundred day moving average price is $458.82. The stock has a market cap of $68.24 billion, a PE ratio of 23.53, a PEG ratio of 1.73 and a beta of 0.44. McKesson has a fifty-two week low of $331.75 and a fifty-two week high of $522.82.
Insider Buying and Selling at McKesson
In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction 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 completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $20,853,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated 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 directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On McKesson
A number of institutional investors have recently added to or reduced their stakes in MCK. Garner Asset Management Corp bought a new stake in McKesson in the 4th quarter worth about $25,000. Covestor Ltd grew its position in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Live Oak Investment Partners bought a new stake in McKesson in the 4th quarter worth about $30,000. LM Advisors LLC bought a new stake in McKesson in the 4th quarter worth about $32,000. Finally, Castleview Partners LLC boosted its stake in McKesson by 87.8% in the second quarter. Castleview Partners LLC now owns 92 shares of the company’s stock valued at $39,000 after acquiring an additional 43 shares during the last quarter. 82.69% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on MCK shares. SVB Leerink started coverage on shares of McKesson in a report on Monday. They set an “outperform” rating and a $600.00 price target on the stock. Morgan Stanley lifted their price target on shares of McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Wells Fargo & Company started coverage on shares of McKesson in a report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 price target on the stock. Finally, Citigroup lifted their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $517.86.
View Our Latest Research Report on McKesson
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.
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