CVS Health Co. (NYSE:CVS) Stake Decreased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its holdings in CVS Health Co. (NYSE:CVS) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,176 shares of the pharmacy operator’s stock after selling 5,694 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CVS Health were worth $5,984,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVS. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the period. State Street Corp raised its position in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP acquired a new stake in shares of CVS Health in the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC increased its stake in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. UBS Group boosted their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Truist Financial reiterated a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Down 4.2 %

CVS Health stock opened at $49.59 on Friday. The firm’s 50 day moving average price is $58.86 and its two-hundred day moving average price is $58.75. The firm has a market cap of $62.40 billion, a PE ratio of 12.59, a P/E/G ratio of 0.89 and a beta of 0.54. CVS Health Co. has a twelve month low of $49.47 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 5.36%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

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.