Poplar Forest Capital LLC Has $22.59 Million Stake in CVS Health Co. (NYSE:CVS)

Poplar Forest Capital LLC boosted its stake in CVS Health Co. (NYSE:CVS) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,472 shares of the pharmacy operator’s stock after purchasing an additional 8,376 shares during the period. CVS Health comprises approximately 3.2% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 18th biggest position. Poplar Forest Capital LLC’s holdings in CVS Health were worth $22,589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steph & Co. increased its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Forum Financial Management LP boosted its position in CVS Health by 19.4% during the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock valued at $1,410,000 after acquiring an additional 2,901 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in CVS Health during the fourth quarter valued at $151,000. Finally, State of Tennessee Treasury Department boosted its position in CVS Health by 10.4% during the fourth quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock valued at $49,336,000 after acquiring an additional 58,836 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS traded down $0.32 on Friday, hitting $57.75. The company’s stock had a trading volume of 6,263,025 shares, compared to its average volume of 11,149,185. The company’s 50 day simple moving average is $58.29 and its 200-day simple moving average is $63.78. The firm has a market cap of $72.50 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm earned $2.21 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 6.52 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is 46.75%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVS shares. Barclays cut their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

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.