Teacher Retirement System of Texas Sells 4,985 Shares of Chemed Corporation (NYSE:CHE)

Teacher Retirement System of Texas lessened its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 26.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,793 shares of the company's stock after selling 4,985 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Chemed worth $8,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in shares of Chemed by 16.1% during the 1st quarter. First Horizon Advisors Inc. now owns 173 shares of the company's stock valued at $107,000 after acquiring an additional 24 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Chemed during the 1st quarter valued at $346,000. DAVENPORT & Co LLC acquired a new stake in shares of Chemed during the 1st quarter valued at $265,000. Summit Trail Advisors LLC acquired a new stake in shares of Chemed during the 1st quarter valued at $302,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Chemed during the 1st quarter valued at $677,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Trading Up 1.3%

NYSE:CHE traded up $6.28 during trading hours on Wednesday, hitting $472.18. 172,318 shares of the stock traded hands, compared to its average volume of 112,125. The firm has a 50 day moving average price of $549.12 and a 200 day moving average price of $561.45. Chemed Corporation has a fifty-two week low of $457.44 and a fifty-two week high of $623.61. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 2.24 and a beta of 0.50.

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

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is presently 9.74%.

Insiders Place Their Bets

In related news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 14,627 shares in the company, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the sale, the chief executive officer owned 101,197 shares of the company's stock, valued at $58,335,010.65. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,500 shares of company stock worth $2,598,450 over the last ninety days. 3.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America cut their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $640.00 price objective (down previously from $674.00) on shares of Chemed in a research report on Monday, June 30th. Finally, Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday.

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.