Olstein Capital Management L.P. Has $5.52 Million Stake in CVS Health Co. (NYSE:CVS)

Olstein Capital Management L.P. cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 123,000 shares of the pharmacy operator’s stock after selling 42,000 shares during the period. Olstein Capital Management L.P.’s holdings in CVS Health were worth $5,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the third quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the third quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVS shares. Mizuho decreased their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. UBS Group boosted their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Truist Financial cut their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Performance

Shares of CVS stock opened at $54.71 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The business’s 50 day simple moving average is $51.24 and its 200 day simple moving average is $56.21. The stock has a market capitalization of $68.84 billion, a PE ratio of 13.88, a PEG ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. As a group, research analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is 67.51%.

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.