Palisade Asset Management LLC Acquires Shares of 566 Chemed Co. (NYSE:CHE)

Palisade Asset Management LLC bought a new stake in shares of Chemed Co. (NYSE:CHE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 566 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new position in Chemed in the 3rd quarter worth about $47,655,000. International Assets Investment Management LLC purchased a new stake in shares of Chemed during the fourth quarter valued at approximately $430,970,000. Victory Capital Management Inc. increased its position in shares of Chemed by 19.7% during the fourth quarter. Victory Capital Management Inc. now owns 188,679 shares of the company’s stock valued at $110,330,000 after acquiring an additional 31,036 shares in the last quarter. FMR LLC increased its holdings in shares of Chemed by 15.4% in the 3rd quarter. FMR LLC now owns 214,994 shares of the company’s stock worth $111,732,000 after purchasing an additional 28,682 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Chemed by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 287,386 shares of the company’s stock worth $149,355,000 after purchasing an additional 24,161 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CHE shares. Royal Bank of Canada boosted their price objective on shares of Chemed from $604.00 to $712.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Oppenheimer increased their price target on Chemed from $625.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research report on Saturday.

Insider Transactions at Chemed

In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at $13,320,654. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chemed news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the transaction, the executive vice president now owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael D. Witzeman sold 2,650 shares of the 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 sale, the chief financial officer now directly owns 2,882 shares in the company, valued at approximately $1,853,529.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,808 shares of company stock worth $10,184,531. Insiders own 3.32% of the company’s stock.

Chemed Stock Performance

CHE traded up $9.64 during trading on Tuesday, reaching $580.70. 127,237 shares of the company traded hands, compared to its average volume of 81,035. The company has a market cap of $8.79 billion, a P/E ratio of 31.24, a PEG ratio of 2.29 and a beta of 0.46. Chemed Co. has a 12-month low of $492.84 and a 12-month high of $654.62. The firm has a fifty day simple moving average of $620.11 and a 200 day simple moving average of $594.07.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.41). Chemed had a return on equity of 30.52% and a net margin of 12.36%. The business had revenue of $589.23 million during the quarter, compared to analysts’ expectations of $587.18 million. As a group, sell-side analysts expect that Chemed Co. will post 21.72 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.60 annualized dividend and a dividend yield of 0.28%. Chemed’s dividend payout ratio (DPR) is 8.61%.

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.