Hedge fund Sachem Head built CVS stake during second quarter
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Sachem Head Capital Management increased its stake in CVS Health Corp during Q2, acquiring 2.45 million shares as CVS's stock fell 25%. The investment firm, led by Scott Ferguson, now owns 0.20% of CVS. Speculation arises about potential activist involvement to improve CVS's stock, which has decreased 31% since January. Despite reducing its US Foods Holding Corp stake by nearly 30%, CVS remains Sachem Head's largest U.S. investment.
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