Chemed Co. (NYSE:CHE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Chemed Co. (NYSE:CHE) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,827 shares of the company’s stock after selling 9,671 shares during the quarter. New York State Common Retirement Fund’s holdings in Chemed were worth $23,289,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in shares of Chemed in the 3rd quarter worth $44,000. Legacy Financial Group LLC acquired a new stake in shares of Chemed in the 3rd quarter worth $48,000. Covestor Ltd increased its stake in shares of Chemed by 27.4% in the 3rd quarter. Covestor Ltd now owns 144 shares of the company’s stock worth $75,000 after acquiring an additional 31 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Chemed in the 3rd quarter worth $126,000. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Chemed in the 3rd quarter worth $126,000. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Trading Down 2.3 %

Shares of NYSE:CHE opened at $560.31 on Friday. The business has a 50-day moving average price of $623.76 and a 200 day moving average price of $590.54. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.48 and a beta of 0.42. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). The business had revenue of $589.23 million for the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 31.69% and a net margin of 12.36%. As a group, equities research analysts predict that Chemed Co. will post 21.99 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio (DPR) is 8.61%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CHE shares. Royal Bank of Canada raised their target price on Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Oppenheimer raised their target price on Chemed from $625.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, StockNews.com downgraded Chemed from a “buy” rating to a “hold” rating in a research report on Friday.

Insider Activity at Chemed

In related news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Brian C. Judkins sold 11,158 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the transaction, the vice president now directly owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at $13,320,654. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock worth $10,184,531 in the last three months. 3.32% of the stock is owned by company insiders.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.