Consumer Confidence Drops; Retail ETFs in Focus Tuesday, September 28, 1:15 PM ET, by ETF Channel Staff The Conference Board released a disappointing consumer confidence report this morning, putting retailer and retail ...
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $2M by Per GH Lofberg, EVP and President, Caremark at CVS Caremark Corporation (NYSE:CVS).
Lofberg bets big on CVS:
Purchased
Insider
Title
Shares
Price/Share
Value
02/13/2012
Per GH Lofberg
EVP and President, Caremark
46,400
$42.99
$1,994,736.00
Lofberg's average cost works out to $42.99/share. Shares of CVS Caremark Corporation were changing hands at $43.88 at last check, trading up about 0.8% on Thursday. The chart below shows the one year performance of CVS shares, versus its 200 day moving average:
Looking at the chart above, CVS's low point in its 52 week range is $31.30 per share, with $44.09 as the 52 week high point — that compares with a last trade of $43.88.
According to the ETF Finder at ETF Channel, CVS makes up 17.50% of the Retail ETF (AMEX:RTH) which is trading higher by about 0.1% on the day Thursday.
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