Park Place Capital Corp Has $120,000 Stock Position in CVS Health Co. (NYSE:CVS)

Park Place Capital Corp raised its holdings in CVS Health Co. (NYSE:CVS) by 18.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,033 shares of the pharmacy operator’s stock after buying an additional 311 shares during the quarter. Park Place Capital Corp’s holdings in CVS Health were worth $120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas grew its holdings in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new stake in shares of CVS Health in the 4th quarter worth approximately $34,000. Steph & Co. lifted its position in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of CVS Health in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. JPMorgan Chase & Co. cut their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target for the company. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company lowered their target price on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. Finally, Bank of America lowered their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

CVS Health Stock Down 1.2 %

CVS traded down $0.71 on Friday, hitting $59.32. 8,695,521 shares of the company were exchanged, compared to its average volume of 9,014,376. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $74.47 billion, a PE ratio of 10.43, a PEG ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The stock’s fifty day moving average is $59.27 and its 200-day moving average is $66.72.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Equities research analysts predict that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

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.