Golden State Equity Partners Grows Stock Position in Chemed Co. (NYSE:CHE)

Golden State Equity Partners lifted its stake in Chemed Co. (NYSE:CHE) by 29.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 869 shares of the company’s stock after buying an additional 196 shares during the period. Golden State Equity Partners’ holdings in Chemed were worth $508,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CHE. Massachusetts Financial Services Co. MA purchased a new position in shares of Chemed in the third quarter worth about $47,655,000. International Assets Investment Management LLC purchased a new position in Chemed during the 4th quarter valued at about $430,970,000. FMR LLC increased its holdings in Chemed by 15.4% during the 3rd quarter. FMR LLC now owns 214,994 shares of the company’s stock valued at $111,732,000 after purchasing an additional 28,682 shares during the period. TimesSquare Capital Management LLC increased its holdings in Chemed by 15.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 203,510 shares of the company’s stock valued at $105,764,000 after purchasing an additional 27,029 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Chemed by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock valued at $149,355,000 after purchasing an additional 24,161 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Insider Transactions at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Brian C. Judkins sold 11,158 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total value of $7,196,910.00. Following the sale, the vice president now directly owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Spencer S. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the completion of the sale, the executive vice president now directly owns 20,760 shares in the company, valued at $13,320,654. The disclosure for this sale can be found here. Insiders have sold a total of 15,808 shares of company stock valued at $10,184,531 in the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a report on Monday, March 4th. StockNews.com downgraded Chemed from a “buy” rating to a “hold” rating in a report on Friday. Finally, Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th.

Chemed Trading Down 2.3 %

Chemed stock traded down $12.92 during trading hours on Friday, hitting $560.42. 102,418 shares of the stock traded hands, compared to its average volume of 69,274. The firm’s 50-day moving average price is $623.29 and its two-hundred day moving average price is $590.84. The company has a market cap of $8.47 billion, a PE ratio of 30.16, a PEG ratio of 2.30 and a beta of 0.42. Chemed Co. has a one year low of $492.84 and a one year high of $654.62.

Chemed (NYSE:CHE) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 earnings per share for the quarter, missing the consensus estimate of $5.09 by ($0.41). The firm had revenue of $589.23 million for the quarter, compared to the consensus estimate of $587.18 million. Chemed had a net margin of 12.36% and a return on equity of 30.52%. On average, sell-side analysts expect that Chemed Co. will post 21.99 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.40 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.29%. Chemed’s dividend payout ratio is currently 8.61%.

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.