Crossmark Global Holdings Inc. boosted its position in Chemed Co. (NYSE:CHE) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,370 shares of the company’s stock after purchasing an additional 302 shares during the period. Crossmark Global Holdings Inc.’s holdings in Chemed were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. APG Asset Management N.V. bought a new stake in Chemed in the third quarter worth about $5,657,000. Cabot Wealth Management Inc. lifted its stake in Chemed by 4.1% in the third quarter. Cabot Wealth Management Inc. now owns 18,062 shares of the company’s stock worth $3,649,000 after purchasing an additional 715 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Chemed by 56.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,030 shares of the company’s stock worth $1,218,000 after purchasing an additional 2,180 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in Chemed by 9.2% in the third quarter. ClariVest Asset Management LLC now owns 21,655 shares of the company’s stock worth $4,375,000 after purchasing an additional 1,827 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its stake in Chemed by 117.0% in the third quarter. Pinebridge Investments L.P. now owns 7,689 shares of the company’s stock worth $1,554,000 after purchasing an additional 4,145 shares during the last quarter. 96.16% of the stock is owned by institutional investors and hedge funds.
CHE has been the subject of several analyst reports. KeyCorp reissued a “hold” rating on shares of Chemed in a research note on Friday, October 27th. ValuEngine downgraded shares of Chemed from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $251.00 price target for the company in a research note on Thursday, November 2nd. Royal Bank of Canada lifted their price target on shares of Chemed to $232.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 31st. Finally, Oppenheimer lifted their price target on shares of Chemed from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $261.33.
Chemed (NYSE:CHE) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.05. Chemed had a net margin of 5.89% and a return on equity of 30.04%. The firm had revenue of $428.35 million during the quarter, compared to the consensus estimate of $423.83 million. During the same quarter in the previous year, the firm posted $2.10 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, February 23rd. Chemed’s dividend payout ratio is presently 19.28%.
In related news, insider Spencer S. Lee sold 1,000 shares of Chemed stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $238.24, for a total transaction of $238,240.00. Following the transaction, the insider now directly owns 34,809 shares of the company’s stock, valued at $8,292,896.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Naomi C. Dallob sold 950 shares of Chemed stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $240.38, for a total transaction of $228,361.00. Following the transaction, the vice president now directly owns 9,747 shares in the company, valued at $2,342,983.86. The disclosure for this sale can be found here. Insiders have sold 13,950 shares of company stock valued at $3,370,681 in the last ninety days. Insiders own 4.90% of the company’s stock.
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Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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