McKesson Co. (MCK) To Go Ex-Dividend on February 29th

McKesson Co. (NYSE:MCKGet 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.

McKesson (NYSE:MCKGet Free Report) last posted 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. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.90 earnings per share. As a group, sell-side analysts predict that McKesson will post 27.62 earnings per share for the current fiscal year.

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.

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McKesson Company Profile

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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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Dividend History for McKesson (NYSE:MCK)

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