Public Employees Retirement Association of Colorado Trims Holdings in CVS Health Co. (NYSE:CVS)

Public Employees Retirement Association of Colorado reduced its position in shares of CVS Health Co. (NYSE:CVS) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,123 shares of the pharmacy operator’s stock after selling 8,887 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CVS Health were worth $10,284,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Wedmont Private Capital grew its position in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock worth $1,410,000 after acquiring an additional 146 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of CVS Health by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after acquiring an additional 150 shares during the last quarter. Landmark Financial Advisors LLC increased its holdings in CVS Health by 3.8% in the 4th quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock valued at $329,000 after purchasing an additional 153 shares during the last quarter. Garland Capital Management Inc. lifted its stake in CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares in the last quarter. Finally, Sepio Capital LP increased its stake in CVS Health by 1.7% during the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock worth $782,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 1.5 %

CVS opened at $57.51 on Friday. The company has a market cap of $72.20 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The business’s fifty day moving average is $58.31 and its two-hundred day moving average is $62.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $2.21 EPS. Analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. JPMorgan Chase & Co. cut their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Company Profile

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.