California Public Employees Retirement System Decreases Stock Position in Chemed Co. (NYSE:CHE)

California Public Employees Retirement System cut its position in Chemed Co. (NYSE:CHE) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,877 shares of the company’s stock after selling 359 shares during the quarter. California Public Employees Retirement System’s holdings in Chemed were worth $50,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Capital LLC purchased a new position in shares of Chemed in the fourth quarter valued at $1,170,000. Raymond James & Associates boosted its stake in shares of Chemed by 5.7% in the fourth quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock valued at $39,715,000 after purchasing an additional 3,654 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Chemed by 229.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock valued at $3,110,000 after purchasing an additional 4,166 shares during the period. Trust Point Inc. acquired a new stake in Chemed in the fourth quarter valued at $2,325,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Chemed by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock valued at $50,585,000 after acquiring an additional 1,283 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Chemed Price Performance

CHE opened at $573.34 on Friday. The stock has a market capitalization of $8.67 billion, a PE ratio of 30.86, a P/E/G ratio of 2.48 and a beta of 0.42. The firm’s fifty day moving average price is $624.00 and its 200 day moving average price is $590.66. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62.

Chemed (NYSE:CHE) last issued its earnings results on Wednesday, April 24th. The company reported $4.68 earnings per share 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%. On average, equities research analysts forecast that Chemed Co. will post 21.99 earnings per share for the current fiscal year.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.28%. Chemed’s dividend payout ratio (DPR) is 8.61%.

Insiders Place Their Bets

In other Chemed news, 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 transaction of $7,196,910.00. Following the sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Brian C. Judkins sold 11,158 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $917,190. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael D. Witzeman sold 2,650 shares of the stock in a transaction dated 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 directly owns 2,882 shares in the company, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,808 shares of company stock valued at $10,184,531. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHE. Oppenheimer upped their price target on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada upped their price target on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a report on Monday, March 4th.

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.