McKesson Co. (NYSE:MCK) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Shareholders of record on Thursday, March 1st will be given a dividend of 0.34 per share on Monday, April 2nd. This represents a $1.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, February 28th.
McKesson has increased its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 5 years. McKesson has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect McKesson to earn $13.49 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 10.1%.
Shares of McKesson (MCK) opened at $150.09 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $30,866.29, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23. McKesson has a 12-month low of $133.82 and a 12-month high of $178.86.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.49. The company had revenue of $53.62 billion for the quarter, compared to analyst estimates of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $3.04 EPS. sell-side analysts predict that McKesson will post 12.71 earnings per share for the current fiscal year.
MCK has been the topic of several recent research reports. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Tuesday. Credit Suisse Group reiterated a “sell” rating and set a $130.00 target price on shares of McKesson in a research report on Friday, February 2nd. ValuEngine upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $173.00 target price (down from $178.00) on shares of McKesson in a research report on Wednesday, November 1st. Finally, Jefferies Group upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $177.79.
In related news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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