Cohen Capital Management Inc. Sells 2,873 Shares of CVS Health Co. (NYSE:CVS)

Cohen Capital Management Inc. decreased its position in CVS Health Co. (NYSE:CVS) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,924 shares of the pharmacy operator’s stock after selling 2,873 shares during the period. CVS Health makes up 1.1% of Cohen Capital Management Inc.’s portfolio, making the stock its 27th largest position. Cohen Capital Management Inc.’s holdings in CVS Health were worth $6,820,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its position in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares during the period. ARGA Investment Management LP increased its stake in CVS Health by 7,567.7% during the 4th quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. State Street Corp lifted its stake in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP acquired a new position in shares of CVS Health in the third quarter valued at approximately $121,987,000. Finally, Pathway Financial Advisers LLC increased its position in shares of CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after acquiring an additional 1,701,331 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVS shares. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada reduced their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Piper Sandler decreased their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Stock Performance

CVS opened at $63.42 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market cap of $79.95 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.98 and a beta of 0.61. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The business has a 50 day moving average of $52.39 and a 200-day moving average of $56.22.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities research analysts expect that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.19%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insiders Place Their Bets

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

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.