McKesson Corporation (MCK) To Go Ex-Dividend on December 1st

McKesson Corporation (NYSE:MCK) announced a quarterly dividend on Thursday, October 30th. Shareholders of record on Monday, December 1st will be given a dividend of 0.82 per share on Friday, January 2nd. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st.

McKesson has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 17 consecutive years. McKesson has a 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

MCK opened at $879.00 on Friday. McKesson has a 1 year low of $558.13 and a 1 year high of $895.58. The company’s 50 day simple moving average is $807.11 and its 200 day simple moving average is $740.86. The stock has a market capitalization of $108.49 billion, a PE ratio of 35.05, a P/E/G ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $7.07 earnings per share. As a group, sell-side analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Bank of America upped their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. UBS Group lifted their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $887.69.

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.