Mackenzie Financial Corp Has $44.32 Million Holdings in CVS Health Corporation (NYSE:CVS)

Key Points

• Mackenzie Financial Corp reduced its stake in CVS Health by 20.4%, owning 654,098 shares post-sale, valued at approximately $44.3 million.
• CVS Health reported earnings per share of $2.25 for the last quarter, significantly exceeding analyst expectations of $1.62, and achieved a 7.0% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.665 per share, reflecting a dividend yield of 4.43% and a payout ratio of 63.48%.

Mackenzie Financial Corp lessened its position in CVS Health Corporation (NYSE:CVS - Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 654,098 shares of the pharmacy operator's stock after selling 167,674 shares during the quarter. Mackenzie Financial Corp owned about 0.05% of CVS Health worth $44,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whitebox Advisors LLC acquired a new stake in CVS Health in the 4th quarter worth $249,000. Jennison Associates LLC grew its position in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares in the last quarter. Cerity Partners LLC increased its stake in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after acquiring an additional 129,535 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after acquiring an additional 183,813 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $121,742,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Up 0.8%

Shares of NYSE:CVS traded up $0.51 during trading on Friday, hitting $62.61. 1,530,731 shares of the company's stock traded hands, compared to its average volume of 10,113,521. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $64.52 and a 200-day moving average price of $63.77. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a market cap of $79.21 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Analyst Ratings Changes

A number of research analysts recently commented on CVS shares. Jefferies Financial Group upped their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Barclays increased their price objective on shares of CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada raised their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.72.

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.