Canal Capital Management LLC raised its position in CVS Health Corporation (NYSE:CVS) by 36.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,241 shares of the pharmacy operator’s stock after buying an additional 4,632 shares during the period. Canal Capital Management LLC’s holdings in CVS Health Corporation were worth $1,387,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of CVS Health Corporation during the fourth quarter worth $800,355,000. Arrowstreet Capital Limited Partnership raised its stake in shares of CVS Health Corporation by 840.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,438,013 shares of the pharmacy operator’s stock worth $192,384,000 after buying an additional 2,178,649 shares during the last quarter. LSV Asset Management raised its stake in shares of CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock worth $359,523,000 after buying an additional 1,404,384 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock worth $751,719,000 after buying an additional 1,359,100 shares during the last quarter. Finally, Highfields Capital Management LP acquired a new stake in shares of CVS Health Corporation during the fourth quarter worth $74,657,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) traded down 1.56% during trading on Friday, reaching $77.66. 5,005,371 shares of the company were exchanged. The firm has a market capitalization of $78.95 billion, a P/E ratio of 15.47 and a beta of 0.91. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44. The firm’s 50 day moving average is $78.76 and its 200 day moving average is $78.95.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is 39.92%.
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A number of research firms recently commented on CVS. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a report on Wednesday, May 24th. Tigress Financial began coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the company a “buy” rating in a report on Tuesday, June 27th. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Needham & Company LLC began coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.24.
In related news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now owns 3,258 shares of the company’s stock, valued at $259,401.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. Insiders have sold 273,675 shares of company stock valued at $21,831,647 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.
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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