Texas Permanent School Fund Lowers Position in Chemed Corp. (CHE)
Texas Permanent School Fund reduced its stake in shares of Chemed Corp. (NYSE:CHE) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,742 shares of the company’s stock after selling 69 shares during the period. Texas Permanent School Fund’s holdings in Chemed Corp. were worth $2,402,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Glen Harbor Capital Management LLC raised its position in Chemed Corp. by 11.4% in the first quarter. Glen Harbor Capital Management LLC now owns 624 shares of the company’s stock valued at $114,000 after buying an additional 64 shares during the period. TrimTabs Asset Management LLC raised its position in Chemed Corp. by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 732 shares of the company’s stock valued at $134,000 after buying an additional 344 shares during the period. Tyers Asset Management LLC raised its position in Chemed Corp. by 11.4% in the first quarter. Tyers Asset Management LLC now owns 858 shares of the company’s stock valued at $157,000 after buying an additional 88 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Chemed Corp. during the second quarter valued at approximately $209,000. Finally, World Asset Management Inc acquired a new position in Chemed Corp. during the second quarter valued at approximately $216,000. 98.33% of the stock is owned by institutional investors and hedge funds.
Chemed Corp. (CHE) opened at 195.35 on Thursday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 48.46 and a beta of 1.14. The firm’s 50-day moving average is $202.23 and its 200-day moving average is $191.74. Chemed Corp. has a 1-year low of $130.05 and a 1-year high of $216.01.
Chemed Corp. (NYSE:CHE) last announced its earnings results on Tuesday, July 25th. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.26. The business had revenue of $415.06 million during the quarter, compared to analysts’ expectations of $407.56 million. Chemed Corp. had a net margin of 4.16% and a return on equity of 26.18%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. On average, equities analysts anticipate that Chemed Corp. will post $8.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from Chemed Corp.’s previous quarterly dividend of $0.26. Chemed Corp.’s dividend payout ratio (DPR) is 26.07%.
Several research analysts have recently commented on the stock. BidaskClub lowered shares of Chemed Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $209.00 price target on shares of Chemed Corp. in a report on Monday, July 31st. TheStreet lowered shares of Chemed Corp. from a “b+” rating to a “c+” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Chemed Corp. from a “hold” rating to a “buy” rating and set a $226.00 price target for the company in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of Chemed Corp. from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $218.33.
In related news, insider Kevin J. Mcnamara sold 15,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $201.16, for a total transaction of $3,017,400.00. Following the completion of the sale, the insider now owns 173,801 shares in the company, valued at approximately $34,961,809.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Walsh III bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average price of $204.56 per share, with a total value of $204,560.00. Following the transaction, the director now directly owns 7,908 shares in the company, valued at $1,617,660.48. The disclosure for this purchase can be found here. Company insiders own 5.32% of the company’s stock.
Chemed Corp. Company Profile
Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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