DAVENPORT & Co LLC Takes Position in Chemed Co. (NYSE:CHE)

DAVENPORT & Co LLC acquired a new stake in shares of Chemed Co. (NYSE:CHE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 428 shares of the company’s stock, valued at approximately $250,000.

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in shares of Chemed by 5.7% in the 4th quarter. Raymond James & Associates now owns 67,918 shares of the company’s stock valued at $39,715,000 after acquiring an additional 3,654 shares during the last quarter. Chicago Capital LLC bought a new stake in shares of Chemed during the fourth quarter valued at approximately $1,170,000. Ontario Teachers Pension Plan Board raised its stake in shares of Chemed by 229.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 5,984 shares of the company’s stock valued at $3,110,000 after acquiring an additional 4,166 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chemed by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 97,335 shares of the company’s stock valued at $50,585,000 after acquiring an additional 1,283 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Chemed by 377.6% during the third quarter. Alps Advisors Inc. now owns 17,386 shares of the company’s stock valued at $9,036,000 after acquiring an additional 13,746 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Chemed Stock Down 0.7 %

Shares of CHE stock opened at $620.57 on Thursday. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.50 and a beta of 0.42. The company’s 50 day moving average is $619.90 and its 200 day moving average is $583.95. Chemed Co. has a 52-week low of $492.84 and a 52-week high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $6.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.25 by $0.35. The company had revenue of $585.90 million for the quarter, compared to analyst estimates of $586.64 million. Chemed had a net margin of 12.03% and a return on equity of 32.29%. Chemed’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $5.39 earnings per share. Analysts anticipate that Chemed Co. will post 21.99 EPS for the current fiscal year.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, February 23rd. Chemed’s payout ratio is 8.93%.

Insider Activity at Chemed

In related news, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Chemed news, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total value of $1,704,321.00. Following the transaction, the chief financial officer now directly owns 2,882 shares of the company’s stock, valued at $1,853,529.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction 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 ninety days. 3.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CHE shares. Royal Bank of Canada lifted their price target on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Oppenheimer lifted their price target 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.

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.