On July 28, McKesson rose 3.05% in regular trading, trading at $877.99/share, with turnover of $131 million. The rally was driven by a combination of a significant dividend increase and a wave of bullish institutional actions.

McKesson announced a 15% increase in its quarterly dividend from $0.82 to $0.94 per share, marking its 10th consecutive year of dividend growth. The dividend is payable October 1 to shareholders of record as of September 1. Concurrently, multiple Wall Street firms raised their price targets: Citigroup lifted its target to $1,000 from $945 while maintaining a Buy rating; Baird raised to $955 maintaining Outperform; and Bank of America increased to $925 from $900. The consensus mean target now stands at approximately $947.73.

Market attention is also building ahead of the company's next earnings report scheduled for August 5 after market close, with consensus adjusted EPS estimated at $9.59. In the prior quarter, McKesson posted adjusted EPS of $11.69, beating estimates, and issued fiscal 2027 guidance of $43.80-$44.60.

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