Teachers Retirement System of The State of Kentucky Sells 8,000 Shares of CVS Health Co. (NYSE:CVS)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,051 shares of the pharmacy operator’s stock after selling 8,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CVS Health were worth $7,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Patron Partners Advisors LLC bought a new position in CVS Health in the 4th quarter worth $277,000. Auxier Asset Management raised its holdings in CVS Health by 8.7% in the 4th quarter. Auxier Asset Management now owns 103,448 shares of the pharmacy operator’s stock worth $7,065,000 after purchasing an additional 8,250 shares during the period. 44 Wealth Management LLC bought a new position in CVS Health in the 4th quarter worth $1,073,000. Stonebridge Capital Advisors LLC raised its holdings in CVS Health by 3.3% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 108,929 shares of the pharmacy operator’s stock worth $7,440,000 after purchasing an additional 3,487 shares during the period. Finally, Voya Financial Advisors Inc. raised its holdings in CVS Health by 41.8% in the 4th quarter. Voya Financial Advisors Inc. now owns 63,852 shares of the pharmacy operator’s stock worth $4,326,000 after purchasing an additional 18,825 shares during the period. 74.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CVS opened at $74.49 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. The company has a market cap of $97.68 billion, a P/E ratio of 12.31, a PEG ratio of 1.72 and a beta of 0.82. CVS Health Co. has a 1 year low of $55.36 and a 1 year high of $77.23. The firm has a 50-day simple moving average of $72.43 and a two-hundred day simple moving average of $68.51.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, February 15th. The pharmacy operator reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.06. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The firm had revenue of $69.55 billion during the quarter, compared to the consensus estimate of $68.67 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 7.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, April 22nd. CVS Health’s payout ratio is 28.25%.

In other news, EVP Alan Lotvin sold 25,836 shares of the company’s stock in a transaction on Friday, January 8th. The stock was sold at an average price of $75.00, for a total transaction of $1,937,700.00. Following the transaction, the executive vice president now directly owns 18,469 shares of the company’s stock, valued at $1,385,175. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Larry J. Merlo sold 62,893 shares of the company’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $77.00, for a total value of $4,842,761.00. Following the transaction, the chief executive officer now directly owns 586,222 shares in the company, valued at $45,139,094. The disclosure for this sale can be found here. Over the last three months, insiders have sold 594,375 shares of company stock worth $44,673,602. 0.46% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on CVS shares. Guggenheim reiterated a “neutral” rating on shares of CVS Health in a research note on Tuesday, March 23rd. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday, January 8th. Finally, SVB Leerink increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a “market perform” rating in a research note on Monday, December 14th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus target price of $82.08.

CVS Health Profile

CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.

Further Reading: Economic Bubble

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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