Kentucky Retirement Systems Reduces Stake in CVS Health Co. (NYSE:CVS)

Kentucky Retirement Systems lowered its holdings in CVS Health Co. (NYSE:CVS) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 94,600 shares of the pharmacy operator’s stock after selling 970 shares during the quarter. Kentucky Retirement Systems’ holdings in CVS Health were worth $5,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health in the 4th quarter worth approximately $32,000. First Community Trust NA lifted its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Creekmur Asset Management LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $34,000. Steph & Co. lifted its holdings in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Finally, ORG Partners LLC raised its position in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Baird R W raised CVS Health to a “hold” rating in a research report on Thursday, May 30th. Robert W. Baird started coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Monday. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Down 0.0 %

CVS Health stock opened at $58.40 on Friday. The firm has a market cap of $73.31 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53. The stock has a fifty day simple moving average of $58.34 and a two-hundred day simple moving average of $62.71. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 EPS. Equities analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.