Stocks
Hodges Capital Trims Stake in Merck & Co.
Hodges Capital Management Inc., an institutional investor, has reduced its stake in Merck & Co., Inc. (NYSE:MRK) by selling 8,148 shares in the second quarter. The sale resulted in a decrease of 58.8% in Hodges Capital's position in MRK.
The company now owns 5,714 shares of MRK's stock, valued at $734,000 as of its most recent filing with the SEC. This is not an isolated incident, as several other institutional investors and hedge funds have also modified their holdings of MRK in recent quarters.
Analysts are bullish on MRK, with 15 rating it a 'Buy' and seven issuing a 'Hold'. The average price target for MRK is $135.50, indicating potential growth opportunities for the company.