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

McKesson Corporation (NYSE:MCK) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Monday, June 1st will be paid a dividend of 0.82 per share on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st.

McKesson has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 17 years. McKesson has a payout ratio of 7.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect McKesson to earn $49.94 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 6.6%.

McKesson Stock Performance

Shares of MCK stock opened at $741.47 on Friday. The firm has a market cap of $89.13 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00. The firm’s 50-day simple moving average is $819.93 and its two-hundred day simple moving average is $852.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts forecast that McKesson will post 44.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MCK. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Mizuho lifted their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. UBS Group boosted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Barclays boosted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Citigroup lowered their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

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.