Olstein Capital Management L.P. Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Olstein Capital Management L.P. reduced its stake in CVS Health Co. (NYSE:CVS) by 10.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,000 shares of the pharmacy operator’s stock after selling 13,000 shares during the period. Olstein Capital Management L.P.’s holdings in CVS Health were worth $7,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whitebox Advisors LLC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $249,000. B&D White Capital Company LLC acquired a new stake in shares of CVS Health during the fourth quarter worth about $417,000. Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health in the fourth quarter valued at approximately $121,742,000. Lazard Asset Management LLC boosted its stake in CVS Health by 7.3% during the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock worth $192,617,000 after purchasing an additional 293,406 shares during the period. Finally, Seizert Capital Partners LLC boosted its stake in shares of CVS Health by 22.8% during the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock worth $25,566,000 after buying an additional 105,708 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.8%

Shares of CVS opened at $63.61 on Monday. CVS Health Co. has a one year low of $43.56 and a one year high of $72.51. The stock has a 50-day moving average price of $65.21 and a 200 day moving average price of $59.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market capitalization of $80.47 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion during the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. Sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.18%. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVS shares. Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Royal Bank of Canada lifted their price target on CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Robert W. Baird lifted their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Finally, Argus set a $77.00 price target on shares of CVS Health in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.75.

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.