CVS Health Co. (NYSE:CVS) Position Boosted by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its position in shares of CVS Health Co. (NYSE:CVS) by 34.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,897,034 shares of the pharmacy operator’s stock after purchasing an additional 3,071,613 shares during the period. CVS Health makes up 2.5% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 5th largest holding. Hotchkis & Wiley Capital Management LLC owned about 0.95% of CVS Health worth $748,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Mather Group LLC. lifted its holdings in CVS Health by 43.5% in the 2nd quarter. Mather Group LLC. now owns 11,588 shares of the pharmacy operator’s stock valued at $684,000 after purchasing an additional 3,512 shares in the last quarter. Arden Trust Co acquired a new position in shares of CVS Health during the second quarter worth $234,000. AMF Tjanstepension AB bought a new stake in shares of CVS Health during the 2nd quarter worth $1,627,000. Greenfield Savings Bank raised its stake in shares of CVS Health by 7.2% during the 2nd quarter. Greenfield Savings Bank now owns 21,263 shares of the pharmacy operator’s stock valued at $1,256,000 after purchasing an additional 1,420 shares during the period. Finally, Olstein Capital Management L.P. raised its position in shares of CVS Health by 20.2% during the second quarter. Olstein Capital Management L.P. now owns 155,000 shares of the pharmacy operator’s stock valued at $9,154,000 after buying an additional 26,000 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 1.3 %

NYSE CVS opened at $59.07 on Tuesday. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The stock has a market capitalization of $74.33 billion, a P/E ratio of 14.99, a PEG ratio of 1.02 and a beta of 0.54. The firm’s 50-day moving average is $59.36 and its two-hundred day moving average is $58.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 5.37 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.50%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVS shares. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.33.

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.