Teacher Retirement System of Texas Acquires 32,500 Shares of Chemed Co. (NYSE:CHE)
Teacher Retirement System of Texas raised its position in shares of Chemed Co. (NYSE:CHE) by 194.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,250 shares of the company’s stock after buying an additional 32,500 shares during the quarter. Teacher Retirement System of Texas owned about 0.31% of Chemed worth $17,771,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHE. FMR LLC boosted its holdings in Chemed by 27.0% during the 1st quarter. FMR LLC now owns 311,951 shares of the company’s stock valued at $99,847,000 after acquiring an additional 66,276 shares during the period. Investec Asset Management LTD boosted its holdings in Chemed by 7.3% during the 2nd quarter. Investec Asset Management LTD now owns 269,948 shares of the company’s stock valued at $97,408,000 after acquiring an additional 18,449 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Chemed by 27.9% during the 2nd quarter. TimesSquare Capital Management LLC now owns 217,000 shares of the company’s stock valued at $78,302,000 after acquiring an additional 47,300 shares during the period. Geode Capital Management LLC boosted its holdings in Chemed by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 179,904 shares of the company’s stock valued at $50,963,000 after acquiring an additional 10,060 shares during the period. Finally, AJO LP boosted its holdings in Chemed by 141.7% during the 1st quarter. AJO LP now owns 145,216 shares of the company’s stock valued at $46,479,000 after acquiring an additional 85,132 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Chemed from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. ValuEngine raised Chemed from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Royal Bank of Canada lifted their target price on Chemed to $405.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Oppenheimer lifted their target price on Chemed from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Chemed has a consensus rating of “Hold” and an average target price of $383.75.
Chemed (NYSE:CHE) last issued its earnings results on Thursday, July 25th. The company reported $3.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.27. The business had revenue of $473.60 million during the quarter, compared to analyst estimates of $471.72 million. Chemed had a return on equity of 35.63% and a net margin of 10.94%. Chemed’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 EPS. As a group, research analysts anticipate that Chemed Co. will post 13.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Chemed’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 0.29%. Chemed’s payout ratio is 10.73%.
In related news, Director George J. Walsh III purchased 500 shares of Chemed stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $412.86 per share, with a total value of $206,430.00. Following the transaction, the director now owns 4,520 shares in the company, valued at approximately $1,866,127.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael D. Witzeman sold 4,349 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $432.50, for a total value of $1,880,942.50. Following the completion of the transaction, the vice president now directly owns 5,175 shares of the company’s stock, valued at $2,238,187.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,902 shares of company stock valued at $16,589,364. 3.96% of the stock is currently owned by corporate insiders.
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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
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