Chicago Equity Partners LLC lessened its holdings in Chemed Co. (NYSE:CHE) by 44.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,955 shares of the company’s stock after selling 10,175 shares during the quarter. Chicago Equity Partners LLC owned about 0.08% of Chemed worth $4,140,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. purchased a new stake in Chemed in the third quarter worth about $4,884,000. US Bancorp DE grew its holdings in Chemed by 2.3% in the third quarter. US Bancorp DE now owns 16,755 shares of the company’s stock worth $5,355,000 after purchasing an additional 376 shares during the period. USA Financial Portformulas Corp purchased a new stake in Chemed in the third quarter worth about $283,000. Acadian Asset Management LLC grew its holdings in Chemed by 1.5% in the third quarter. Acadian Asset Management LLC now owns 576,079 shares of the company’s stock worth $184,100,000 after purchasing an additional 8,586 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Chemed by 7,018.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 6,264 shares of the company’s stock worth $2,002,000 after purchasing an additional 6,176 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.
CHE has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Chemed in a report on Friday, October 12th. They issued a “buy” rating and a $390.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Chemed to $321.00 and gave the stock a “market perform” rating in a report on Monday, July 30th. Zacks Investment Research cut shares of Chemed from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, ValuEngine cut shares of Chemed from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $334.00.
In other news, insider Kevin J. Mcnamara sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $305.98, for a total value of $2,141,860.00. Following the transaction, the insider now owns 141,293 shares in the company, valued at $43,232,832.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Donald E. Saunders sold 300 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $319.22, for a total transaction of $95,766.00. Following the completion of the transaction, the director now owns 8,701 shares in the company, valued at approximately $2,777,533.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,506 shares of company stock worth $5,809,723. Insiders own 4.90% of the company’s stock.
Shares of NYSE CHE opened at $324.23 on Friday. The company has a market capitalization of $5.02 billion, a PE ratio of 60.49, a PEG ratio of 2.75 and a beta of 1.23. Chemed Co. has a 52-week low of $227.14 and a 52-week high of $335.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.11 and a current ratio of 1.14.
Chemed (NYSE:CHE) last issued its earnings results on Monday, October 29th. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.27. The firm had revenue of $444.15 million for the quarter, compared to the consensus estimate of $445.16 million. Chemed had a net margin of 11.73% and a return on equity of 35.13%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. On average, research analysts anticipate that Chemed Co. will post 11.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. Chemed’s dividend payout ratio is presently 22.39%.
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Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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