New York Life Investment Management LLC Takes $973,000 Position in Chemed Co. (NYSE:CHE)

New York Life Investment Management LLC bought a new stake in Chemed Co. (NYSE:CHE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,664 shares of the company’s stock, valued at approximately $973,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CHE. Wealth Alliance raised its stake in shares of Chemed by 3.0% in the 4th quarter. Wealth Alliance now owns 578 shares of the company’s stock valued at $338,000 after buying an additional 17 shares in the last quarter. Fifth Third Bancorp raised its position in Chemed by 0.5% in the third quarter. Fifth Third Bancorp now owns 3,914 shares of the company’s stock worth $2,034,000 after purchasing an additional 21 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Chemed by 0.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,275 shares of the company’s stock worth $1,330,000 after purchasing an additional 21 shares in the last quarter. Signaturefd LLC lifted its stake in Chemed by 5.8% during the fourth quarter. Signaturefd LLC now owns 385 shares of the company’s stock worth $225,000 after purchasing an additional 21 shares during the period. Finally, Kestra Advisory Services LLC boosted its holdings in Chemed by 3.8% during the third quarter. Kestra Advisory Services LLC now owns 634 shares of the company’s stock valued at $329,000 after purchasing an additional 23 shares in the last quarter. 95.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented 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 report on Monday, March 4th. Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a report on Saturday.

Insider Buying and Selling

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

Chemed Price Performance

Shares of CHE opened at $580.70 on Wednesday. The company has a market capitalization of $8.79 billion, a P/E ratio of 31.25, a PEG ratio of 2.29 and a beta of 0.46. Chemed Co. has a one year low of $492.84 and a one year high of $654.62. The business’s 50 day simple moving average is $619.79 and its 200-day simple moving average is $594.55.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). The business had revenue of $589.23 million during the quarter, compared to analyst estimates of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. On average, sell-side analysts anticipate that Chemed Co. will post 21.72 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, February 23rd. Chemed’s dividend payout ratio is 8.61%.

Chemed Company 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.