Arizona State Retirement System Has $3.56 Million Stake in Chemed Co. (CHE)
Arizona State Retirement System decreased its stake in Chemed Co. (NYSE:CHE) by 56.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,065 shares of the company’s stock after selling 14,470 shares during the period. Arizona State Retirement System’s holdings in Chemed were worth $3,561,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC boosted its holdings in Chemed by 28,358.4% in the first quarter. Summit Trail Advisors LLC now owns 156,521 shares of the company’s stock valued at $157,000 after purchasing an additional 155,971 shares during the last quarter. Grimes & Company Inc. purchased a new position in Chemed in the first quarter valued at about $218,000. Zeke Capital Advisors LLC purchased a new position in Chemed in the first quarter valued at about $218,000. We Are One Seven LLC boosted its holdings in Chemed by 234.0% in the first quarter. We Are One Seven LLC now owns 805 shares of the company’s stock valued at $220,000 after purchasing an additional 564 shares during the last quarter. Finally, LPL Financial LLC purchased a new position in Chemed in the first quarter valued at about $236,000. 90.50% of the stock is owned by institutional investors.
Shares of CHE opened at $321.56 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.19. Chemed Co. has a one year low of $186.09 and a one year high of $335.99. The stock has a market capitalization of $5.16 billion, a P/E ratio of 59.98, a price-to-earnings-growth ratio of 2.90 and a beta of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Monday, August 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Friday, August 10th. This is an increase from Chemed’s previous quarterly dividend of $0.28. Chemed’s dividend payout ratio (DPR) is currently 22.39%.
In other Chemed news, insider Kevin J. Mcnamara sold 19,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $322.27, for a total transaction of $6,123,130.00. Following the transaction, the insider now owns 124,491 shares of the company’s stock, valued at approximately $40,119,714.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick P. Grace sold 250 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $323.76, for a total value of $80,940.00. Following the transaction, the director now directly owns 4,520 shares in the company, valued at approximately $1,463,395.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,256 shares of company stock worth $8,127,168. 4.82% of the stock is currently owned by company insiders.
A number of research analysts recently commented on the company. ValuEngine downgraded Chemed from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Royal Bank of Canada increased their price target on Chemed to $321.00 and gave the company a “market perform” rating in a report on Monday, July 30th. Finally, Zacks Investment Research downgraded Chemed from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $315.33.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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