New York State Common Retirement Fund Reduces Holdings in Chemed Co. (NYSE:CHE)

New York State Common Retirement Fund decreased its holdings in Chemed Co. (NYSE:CHE) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned 0.26% of Chemed worth $23,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHE. SG Americas Securities LLC boosted its holdings in shares of Chemed by 32.8% in the third quarter. SG Americas Securities LLC now owns 3,290 shares of the company’s stock worth $1,710,000 after buying an additional 813 shares during the last quarter. Golden State Equity Partners raised its stake in Chemed by 29.4% during the 3rd quarter. Golden State Equity Partners now owns 673 shares of the company’s stock worth $350,000 after acquiring an additional 153 shares during the period. Trinity Street Asset Management LLP raised its stake in Chemed by 3.0% during the 3rd quarter. Trinity Street Asset Management LLP now owns 29,861 shares of the company’s stock worth $15,519,000 after acquiring an additional 863 shares during the period. Xponance Inc. raised its stake in Chemed by 1.8% during the 3rd quarter. Xponance Inc. now owns 2,974 shares of the company’s stock worth $1,546,000 after acquiring an additional 54 shares during the period. Finally, Raymond James & Associates raised its stake in Chemed by 2.7% during the 3rd quarter. Raymond James & Associates now owns 64,264 shares of the company’s stock worth $33,398,000 after acquiring an additional 1,669 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Insider Activity

In related news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the sale, the vice president now owns 1,422 shares in the company, valued at $917,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the sale, the vice president now owns 1,422 shares in the company, valued at $917,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the completion of the sale, the chief financial officer now owns 2,882 shares in the company, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Insiders have sold a total of 15,808 shares of company stock worth $10,184,531 over the last quarter. Insiders own 3.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

Chemed Price Performance

Chemed stock opened at $560.31 on Friday. The stock has a market cap of $8.47 billion, a P/E ratio of 30.16, a PEG ratio of 2.48 and a beta of 0.42. Chemed Co. has a 1 year low of $492.84 and a 1 year high of $654.62. The firm’s 50 day moving average price is $623.76 and its 200-day moving average price is $590.54.

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

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is currently 8.61%.

Chemed Profile

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.