CVS Health Co. (NYSE:CVS) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 821,772 shares of the pharmacy operator's stock after purchasing an additional 68,144 shares during the period. Mackenzie Financial Corp owned about 0.07% of CVS Health worth $36,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dodge & Cox grew its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares in the last quarter. Capital World Investors grew its position in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after buying an additional 689,867 shares in the last quarter. Capital International Investors grew its position in shares of CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after buying an additional 1,212,126 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.95 during mid-day trading on Friday, hitting $63.73. 2,974,971 shares of the company were exchanged, compared to its average volume of 11,237,109. The stock has a 50 day simple moving average of $65.67 and a 200-day simple moving average of $59.53. The firm has a market cap of $80.62 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. CVS Health's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. On average, sell-side analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CVS shares. Edward Jones raised CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. UBS Group upped their price target on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Argus set a $77.00 price target on CVS Health in a report on Tuesday, February 18th. Finally, Mizuho upped their price target on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.94.

Insider Activity

In other news, SVP James David Clark sold 7,513 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This trade represents a 47.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.22% 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.