Olstein Capital Management L.P. Grows Stock Position in CVS Health Co. (NYSE:CVS)

Olstein Capital Management L.P. increased its holdings in shares of CVS Health Co. (NYSE:CVS) by 6.5% during the third quarter, Holdings Channel reports. The fund owned 165,000 shares of the pharmacy operator’s stock after purchasing an additional 10,000 shares during the period. CVS Health makes up about 1.8% of Olstein Capital Management L.P.’s portfolio, making the stock its 6th biggest position. Olstein Capital Management L.P.’s holdings in CVS Health were worth $10,375,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Pzena Investment Management LLC lifted its holdings in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Capital International Investors lifted its holdings in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors lifted its holdings in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Down 2.2 %

Shares of CVS traded down $1.33 during midday trading on Thursday, hitting $60.28. The stock had a trading volume of 2,453,055 shares, compared to its average volume of 11,219,146. The company has a 50 day simple moving average of $59.59 and a two-hundred day simple moving average of $59.23. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market cap of $75.83 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. 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 (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts anticipate that CVS Health Co. will post 6.27 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 47.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVS shares. Wells Fargo & Company reduced their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays reduced their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $73.11.

CVS Health 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.