Teachers Retirement System of The State of Kentucky Sells 143,836 Shares of CVS Health Co. (NYSE:CVS)

Teachers Retirement System of The State of Kentucky reduced its position in shares of CVS Health Co. (NYSE:CVS) by 58.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 100,870 shares of the pharmacy operator’s stock after selling 143,836 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CVS Health were worth $5,958,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. First Community Trust NA boosted its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in CVS Health during the fourth quarter valued at approximately $34,000. Steph & Co. raised its stake in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Finally, ORG Partners LLC boosted its position in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.1 %

CVS stock opened at $62.24 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm’s fifty day simple moving average is $58.44 and its 200-day simple moving average is $61.66. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market capitalization of $78.13 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.27%. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Barclays reduced their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.10.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.