Peoples Bank KS Lowers Holdings in CVS Health Co. (NYSE:CVS)

Peoples Bank KS cut its position in shares of CVS Health Co. (NYSE:CVS) by 44.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,273 shares of the pharmacy operator’s stock after selling 13,069 shares during the period. Peoples Bank KS’s holdings in CVS Health were worth $1,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Pzena Investment Management LLC raised its holdings in shares of CVS Health by 132.9% in the 2nd 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 in the last quarter. Capital International Investors increased its holdings in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors raised its position in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System boosted its position in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in CVS Health in the fourth quarter valued at about $111,209,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE CVS traded up $1.67 during trading hours on Friday, reaching $64.59. The company’s stock had a trading volume of 16,310,789 shares, compared to its average volume of 11,032,696. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company’s 50-day moving average is $58.52 and its two-hundred day moving average is $61.67. The firm has a market capitalization of $81.08 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. The company 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%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. On average, equities analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced 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. This represents a $2.66 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research note on Friday. Evercore ISI decreased their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.40.

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.