Canada Pension Plan Investment Board Increases Position in CVS Health Co. (NYSE:CVS)

Canada Pension Plan Investment Board grew its holdings in CVS Health Co. (NYSE:CVS) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 1,524,733 shares of the pharmacy operator’s stock after acquiring an additional 48,903 shares during the period. Canada Pension Plan Investment Board’s holdings in CVS Health were worth $90,051,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CVS. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health in the 4th quarter valued at $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Steph & Co. increased its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in CVS Health during the fourth quarter worth about $36,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of CVS Health in the 4th quarter valued at approximately $37,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.5 %

NYSE CVS opened at $57.51 on Friday. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a 50 day moving average of $58.31 and a two-hundred day moving average of $62.60. The stock has a market capitalization of $72.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 earnings per share. As a group, research analysts expect that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.63%. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

Several analysts have recently commented on CVS shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company upped their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Barclays dropped their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.10.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.