Victory Capital Management Inc. Reduces Stock Position in Chemed Corporation (NYSE:CHE)

Victory Capital Management Inc. cut its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,198 shares of the company's stock after selling 3,421 shares during the period. Victory Capital Management Inc.'s holdings in Chemed were worth $3,198,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CHE. Alpine Bank Wealth Management purchased a new position in shares of Chemed in the first quarter valued at $29,000. HM Payson & Co. bought a new position in Chemed in the 1st quarter worth about $30,000. Whipplewood Advisors LLC boosted its stake in Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Chemed by 633.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company's stock valued at $47,000 after buying an additional 76 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Chemed by 600.0% during the first quarter. Versant Capital Management Inc now owns 98 shares of the company's stock valued at $60,000 after buying an additional 84 shares during the period. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Spencer S. Lee sold 1,500 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the sale, the executive vice president owned 14,627 shares in the company, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the company's stock in a transaction on 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 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 a total of 4,500 shares of company stock worth $2,598,450 in the last three months. Insiders own 3.29% of the company's stock.

Chemed Trading Up 1.3%

Shares of CHE opened at $469.08 on Monday. The stock has a 50-day moving average price of $522.47 and a 200-day moving average price of $556.31. The company has a market cap of $6.86 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50. Chemed Corporation has a 12-month low of $449.01 and a 12-month high of $623.60.

Chemed Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHE. Royal Bank Of Canada restated an "outperform" rating and issued a $640.00 price objective (down from $674.00) on shares of Chemed in a research report on Monday, June 30th. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Jefferies Financial Group initiated coverage on shares of Chemed in a research report on Friday. They set a "hold" rating and a $500.00 price target for the company. Finally, Bank of America decreased their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th.

Chemed 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.

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