SmartAsset: CVS again best stock performance in R.I.

SMARTASSET SAID CVS Health Corp. ranked No. 1 in the state for its stock performance, and 47th nationwide. / COURTESY SMARTASSET
SMARTASSET SAID CVS Health Corp. ranked No. 1 in the state for its stock performance, and 47th nationwide. / COURTESY SMARTASSET

WOONSOCKET – CVS Health Corp. had the best performing stock in Rhode Island over a five-year period ending March 31, according to SmartAsset.
The financial technology company said CVS’ average annual return was the highest among the 10 public companies it listed at 25 percent; its volatility was among the lowest at 18.6 percent.
Hasbro Inc., of Pawtucket, was second for its 14.2 percent rate of return and 23.6 percent volatility.
The rest of the public companies, listed in order of their stock performance, are:

  • Washington Trust Bancorp Inc., of Westerly, average return of 14.8 percent; volatility, 28.1 percent
  • AstroNova (previously known as Astro-Med Inc.), of West Warwick, average return of 14.7 percent; volatility, 30.7 percent
  • Coastway Bancorp Inc., of Warwick, average return of 6.4 percent; volatility, 15.6 percent
  • Textron Inc., of Providence, average return of 8.9 percent; volatility, 33.3 percent
  • Nortek Inc., of Providence, average return of 5.8 percent; volatility, 34.6 percent
  • United Natural Foods Inc., of Providence, average return of 1.8 percent; volatility, 32 percent
  • KVH Industries Inc., of Middletown, average return of -4.2 percent; volatility, 42.8 percent
  • Citizens Financial Group Inc., Providence, average return of -4.6 percent; volatility, 25.8 percent

SmartAsset said it considered stock price, dividends paid and volatility, as well as the risk-adjusted return of the stocks, to come up with its findings.

SmartAsset also ranked companies based on their market capitalization. Large cap companies have a market value greater than $10 billion; mid cap companies have a market value between $2 billion and $10 billion and small cap companies have a market value of less than $2 billion.
Only two companies were in the large cap category, CVS, again in first place, followed by Citizens.
In the mid cap category, Hasbro held the top spot, followed by Textron.
In the small cap category, Washington Trust led the group, and was followed by AstroNova, Coastway, Nortek, UNFI and KVH.
“Our study aims to find the companies with the best performing stock in each area of the nation,” SmartAsset wrote on its website. “We wanted to find the companies with stock prices that have grown the fastest and paid the most in dividends while providing the least amount of risk to investors. To do that we looked at the companies that are publicly traded on major U.S. exchanges (New York Stock Exchange, Nasdaq and AMEX) and have a market value greater than $50 million at the end of the first quarter of 2016.”

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