New York State Common Retirement Fund Has $4.69 Million Stock Position in Chemed Corporation (NYSE:CHE)

New York State Common Retirement Fund lessened its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,625 shares of the company's stock after selling 12,400 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Chemed worth $4,692,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CHE. Bessemer Group Inc. grew its holdings in shares of Chemed by 14.2% in the first quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after purchasing an additional 118 shares during the period. DAVENPORT & Co LLC acquired a new stake in Chemed during the first quarter worth approximately $265,000. Mather Group LLC. increased its holdings in shares of Chemed by 53.3% in the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after acquiring an additional 56 shares during the period. Park Place Capital Corp grew its position in Chemed by 71.2% in the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after buying an additional 1,486 shares during the last quarter. Finally, Synergy Asset Management LLC grew its position in Chemed by 108.4% in the 1st quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock valued at $1,876,000 after buying an additional 1,586 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Trading Down 0.5%

NYSE:CHE traded down $2.24 on Thursday, hitting $463.87. 84,051 shares of the company's stock traded hands, compared to its average volume of 129,513. The company has a market cap of $6.79 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.18 and a beta of 0.50. Chemed Corporation has a 1 year low of $449.01 and a 1 year high of $623.60. The firm has a 50-day moving average price of $526.72 and a 200-day moving average price of $556.82.

Chemed (NYSE:CHE - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The business had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. During the same period in the prior year, the company posted $5.20 earnings per share. Chemed's revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's payout ratio is 9.74%.

Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the transaction, the chief executive officer directly owned 101,197 shares in the company, valued at approximately $58,335,010.65. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the completion of the transaction, the executive vice president owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock worth $2,598,450. 3.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CHE has been the topic of several recent research reports. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $640.00 price target (down previously from $674.00) on shares of Chemed in a research report on Monday, June 30th. Finally, Bank of America reduced their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th.

About Chemed

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.