M&T Bank Corp Invests $39,000 in Covetrus, Inc. (NASDAQ:CVET)

M&T Bank Corp bought a new position in shares of Covetrus, Inc. (NASDAQ:CVETGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,950 shares of the company’s stock, valued at approximately $39,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Covetrus by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 11,549,462 shares of the company’s stock worth $193,916,000 after acquiring an additional 322,572 shares in the last quarter. Wellington Management Group LLP lifted its stake in Covetrus by 6.2% in the 1st quarter. Wellington Management Group LLP now owns 8,357,496 shares of the company’s stock valued at $140,323,000 after buying an additional 485,051 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Covetrus by 3.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,945,606 shares of the company’s stock valued at $83,037,000 after buying an additional 151,302 shares in the last quarter. State Street Corp lifted its stake in Covetrus by 1.3% in the 1st quarter. State Street Corp now owns 3,843,625 shares of the company’s stock valued at $64,534,000 after buying an additional 49,718 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Covetrus by 36.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,501,140 shares of the company’s stock valued at $41,997,000 after buying an additional 661,866 shares in the last quarter. 92.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of Covetrus from a “d+” rating to a “c-” rating in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.00.

Covetrus Price Performance

CVET stock opened at $20.99 on Friday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -209.90 and a beta of 1.51. The company has a current ratio of 1.88, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. Covetrus, Inc. has a 12 month low of $13.39 and a 12 month high of $21.20. The firm has a 50-day moving average of $20.94 and a two-hundred day moving average of $20.33.

About Covetrus

(Get Rating)

Covetrus, Inc, together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus branded products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, parasiticides, and vitamins and supplements to wholesale and retail customers.

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Institutional Ownership by Quarter for Covetrus (NASDAQ:CVET)

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