KDI Capital Partners LLC decreased its stake in CVS Health Corporation (NYSE:CVS) by 31.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,921 shares of the pharmacy operator’s stock after selling 36,353 shares during the period. CVS Health Corporation accounts for approximately 2.2% of KDI Capital Partners LLC’s holdings, making the stock its 22nd largest position. KDI Capital Partners LLC’s holdings in CVS Health Corporation were worth $6,430,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TB Alternative Assets Ltd. acquired a new stake in CVS Health Corporation during the second quarter worth approximately $121,000. Gemmer Asset Management LLC lifted its position in CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after acquiring an additional 734 shares during the last quarter. Grace & White Inc. NY acquired a new stake in CVS Health Corporation during the second quarter worth approximately $199,000. Finally, Nadler Financial Group Inc. acquired a new stake in CVS Health Corporation during the second quarter worth approximately $202,000. Institutional investors own 81.46% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded up $1.97 during midday trading on Friday, reaching $70.99. 10,299,801 shares of the company’s stock traded hands, compared to its average volume of 6,615,108. CVS Health Corporation has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The company has a quick ratio of 0.56, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market cap of $69,916.70, a PE ratio of 12.09, a PEG ratio of 1.19 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The business had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. During the same period in the prior year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is presently 41.32%.
In other news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $79.62, for a total transaction of $199,050.00. Following the sale, the director now owns 3,258 shares in the company, valued at approximately $259,401.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares in the company, valued at approximately $3,504,758.26. The disclosure for this sale can be found here. Insiders sold a total of 716,625 shares of company stock worth $58,318,431 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
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A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC upgraded shares of CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.02 to $79.00 in a research report on Friday. Royal Bank of Canada assumed coverage on shares of CVS Health Corporation in a research report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. dropped their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Finally, Wolfe Research cut shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $85.82.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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