Hodges Capital Management Inc. Has $983,000 Holdings in CVS Health Corp (NYSE:CVS)

Hodges Capital Management Inc. lowered its position in shares of CVS Health Corp (NYSE:CVS) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,837 shares of the pharmacy operator’s stock after selling 1,752 shares during the quarter. Hodges Capital Management Inc.’s holdings in CVS Health were worth $983,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Addenda Capital Inc. increased its stake in CVS Health by 10.4% in the 3rd quarter. Addenda Capital Inc. now owns 121,368 shares of the pharmacy operator’s stock valued at $7,089,000 after buying an additional 11,402 shares during the period. Diversified Trust Co increased its stake in CVS Health by 53.4% in the 3rd quarter. Diversified Trust Co now owns 15,944 shares of the pharmacy operator’s stock valued at $931,000 after buying an additional 5,550 shares during the period. Country Trust Bank increased its stake in CVS Health by 8.4% in the 3rd quarter. Country Trust Bank now owns 732,886 shares of the pharmacy operator’s stock valued at $42,801,000 after buying an additional 57,044 shares during the period. Heron Financial Group LLC increased its stake in CVS Health by 46.7% in the 3rd quarter. Heron Financial Group LLC now owns 6,420 shares of the pharmacy operator’s stock valued at $378,000 after buying an additional 2,043 shares during the period. Finally, Raymond James Trust N.A. increased its stake in CVS Health by 3.3% in the 3rd quarter. Raymond James Trust N.A. now owns 225,311 shares of the pharmacy operator’s stock valued at $13,158,000 after buying an additional 7,302 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

NYSE CVS opened at $59.59 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $59.23 and a 200 day simple moving average of $62.28. The company has a market cap of $77.99 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.48 and a beta of 0.68. CVS Health Corp has a 1 year low of $52.04 and a 1 year high of $77.03.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.71. The business had revenue of $65.30 billion during the quarter, compared to the consensus estimate of $64.29 billion. CVS Health had a net margin of 3.13% and a return on equity of 16.32%. CVS Health’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 EPS. Equities research analysts forecast that CVS Health Corp will post 7.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Wednesday, October 21st. CVS Health’s dividend payout ratio is currently 28.25%.

Several research analysts have weighed in on the stock. SVB Leerink upped their price objective on shares of CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Credit Suisse Group upped their price objective on shares of CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $109.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Piper Sandler began coverage on shares of CVS Health in a research note on Thursday, September 17th. They set an “overweight” rating and a $72.00 price target on the stock. Finally, Royal Bank of Canada restated a “buy” rating on shares of CVS Health in a research note on Thursday, July 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.94.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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