Victory Capital Management Inc. Lowers Holdings in Chemed Co. (NYSE:CHE)

Victory Capital Management Inc. trimmed its holdings in Chemed Co. (NYSE:CHE - Free Report) by 25.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,417 shares of the company's stock after selling 5,941 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Chemed worth $10,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Chemed by 34.4% in the second quarter. GAMMA Investing LLC now owns 86 shares of the company's stock valued at $47,000 after acquiring an additional 22 shares during the period. American National Bank & Trust acquired a new position in shares of Chemed in the 3rd quarter valued at $61,000. EntryPoint Capital LLC boosted its holdings in Chemed by 14.0% during the first quarter. EntryPoint Capital LLC now owns 147 shares of the company's stock worth $94,000 after buying an additional 18 shares in the last quarter. Mather Group LLC. grew its position in Chemed by 60.5% during the second quarter. Mather Group LLC. now owns 183 shares of the company's stock valued at $99,000 after buying an additional 69 shares during the period. Finally, Quarry LP increased its holdings in Chemed by 721.7% in the second quarter. Quarry LP now owns 189 shares of the company's stock valued at $103,000 after buying an additional 166 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chemed

In related news, EVP Nicholas Michael Westfall sold 1,713 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $569.35, for a total value of $975,296.55. Following the completion of the sale, the executive vice president now owns 6,109 shares of the company's stock, valued at approximately $3,478,159.15. This represents a 21.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George J. Walsh III sold 400 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the sale, the director now directly owns 3,046 shares in the company, valued at approximately $1,819,893.62. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,113 shares of company stock valued at $2,411,905 over the last 90 days. 3.32% of the stock is currently owned by corporate insiders.

Chemed Stock Performance

NYSE:CHE opened at $553.77 on Thursday. Chemed Co. has a fifty-two week low of $523.33 and a fifty-two week high of $654.62. The company has a fifty day moving average of $579.26 and a two-hundred day moving average of $565.17. The stock has a market capitalization of $8.33 billion, a PE ratio of 27.98, a P/E/G ratio of 2.24 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing the consensus estimate of $5.76 by ($0.12). The firm had revenue of $606.18 million for the quarter, compared to analysts' expectations of $612.22 million. Chemed had a return on equity of 27.86% and a net margin of 12.69%. Chemed's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.32 earnings per share. Research analysts forecast that Chemed Co. will post 22.26 earnings per share for the current year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 0.36%. Chemed's dividend payout ratio (DPR) is presently 10.11%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their target price on shares of Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th.

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.