New York Life Investment Management LLC Takes $973,000 Position in Chemed Co. (NYSE:CHE)

New York Life Investment Management LLC purchased a new position in shares of Chemed Co. (NYSE:CHE) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,664 shares of the company’s stock, valued at approximately $973,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Chemed in the 3rd quarter worth approximately $47,655,000. International Assets Investment Management LLC bought a new stake in Chemed during the fourth quarter worth $430,970,000. Victory Capital Management Inc. boosted its position in Chemed by 19.7% in the fourth quarter. Victory Capital Management Inc. now owns 188,679 shares of the company’s stock worth $110,330,000 after purchasing an additional 31,036 shares during the last quarter. FMR LLC grew its stake in Chemed by 15.4% in 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. Finally, JPMorgan Chase & Co. grew its stake in Chemed by 9.2% in 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. 95.85% of the stock is owned by institutional investors.

Chemed Stock Performance

Shares of CHE opened at $580.70 on Wednesday. The firm has a market cap of $8.79 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Chemed Co. has a fifty-two week low of $492.84 and a fifty-two week high of $654.62. The business has a 50-day moving average of $619.79 and a 200 day moving average of $594.55.

Chemed (NYSE:CHE) last posted 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 firm had revenue of $589.23 million for the quarter, compared to the consensus estimate of $587.18 million. Chemed had a return on equity of 30.52% and a net margin of 12.36%. As a group, research analysts predict that Chemed Co. will post 21.72 earnings per share for the current fiscal year.

Chemed Announces Dividend

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

Insider Activity at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now owns 1,422 shares of the company’s stock, valued at approximately $917,190. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian C. Judkins sold 11,158 shares of Chemed 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 completion of the transaction, the vice president now directly owns 1,422 shares in the company, valued at $917,190. 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 over the last 90 days. 3.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CHE shares. Royal Bank of Canada boosted their price target on shares of Chemed from $604.00 to $712.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Oppenheimer boosted their target price on shares of Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” 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.