Coho Partners Ltd. Sells 1,739 Shares of CVS Health Co. (NYSE:CVS)

Coho Partners Ltd. reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,746 shares of the pharmacy operator’s stock after selling 1,739 shares during the quarter. Coho Partners Ltd.’s holdings in CVS Health were worth $2,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Pzena Investment Management LLC increased its stake in 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 worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Capital International Investors grew its holdings in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors increased its stake in shares of CVS Health by 8.0% in the first 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 during the period. State of Michigan Retirement System boosted its position 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 valued at $118,455,000 after buying an additional 1,606,500 shares during the period. Finally, Swedbank AB bought a new stake in CVS Health in the 1st quarter worth $110,816,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 0.1 %

Shares of NYSE:CVS opened at $56.78 on Thursday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.93 and a beta of 0.54. The stock has a fifty day simple moving average of $59.88 and a two-hundred day simple moving average of $60.17. The company has a current ratio of 0.86, a quick ratio of 0.66 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. On average, research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Ratings Changes

CVS has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen raised 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 note on Friday, October 4th. Finally, Barclays reduced their price objective on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $74.89.

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.