Stock Update (NYSE:CVS): CVS Pharmacy Expands Healthy Foods Initiative

[PR Newswire] – WOONSOCKET, R.I., June 21, 2016 /PRNewswire/ — CVS Pharmacy® announced today the expansion of its assortment of healthier foods and beverages to more than 2,900 stores nationwide. The new store layouts have a broader assortment of better-for-you foods in an expanded refrigerated section and more prominent displays of healthy foods and grab-and-go snacks, making healthy snacking more convenient. Read more on this. CVS Health Corporation (CVS) , valued at $100.73B, began trading this morning at $93.47. Today, shares have traded between $92.84 and $93.95 per share and has traded between $81.37 and $113.65 over the past 12 months. Priced at 15.99x this year’s forecasted earnings, CVS shares are relatively expensive compared to the industry’s 9.53x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $1.70 per share annually in dividends, yielding 1.79%. In a review of the consensus earnings estimate this quarter, 24 sell-side analysts are looking at $1.30 per share, which would be $0.08 better than the year-ago quarter and a $0.05 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $5.83 is a $0.67 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $44.30 Billion. If reported, that would be a 19.18% increase over the year-ago quarter. Recently, Morgan Stanley downgraded CVS from Overweight to Equal-Weight (Jun 20, 2016). Previously, Atlantic Equities Initiated CVS at to Overweight. Investors should keep in mind is that the average price target is $113.60, which is 21.54% above where the stock opened this morning. See more in (NYSE:CVS) Similar Articles: Stock Update (NYSE:CVS): CVS Pharmacy Now Open in Target Stores Throughout Washington Stock Update (NYSE:CVS): CVS Health Receives URAC Accreditation for Specialty Pharmacy Stock Update: CVS Caremark Corporation (NYSE:CVS) – CVS Health Receives URAC Accreditation for Mail Service Pharmacy
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