Wells Fargo & Company MN Sells 13,810 Shares of Chemed Co. (NYSE:CHE)

Wells Fargo & Company MN lessened its stake in Chemed Co. (NYSE:CHE - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,400 shares of the company's stock after selling 13,810 shares during the quarter. Wells Fargo & Company MN owned approximately 0.85% of Chemed worth $67,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Chemed by 0.8% during the third quarter. State Street Corp now owns 464,354 shares of the company's stock valued at $279,063,000 after purchasing an additional 3,564 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Chemed by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company's stock valued at $180,654,000 after buying an additional 4,966 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chemed by 8.2% in the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company's stock valued at $141,343,000 after acquiring an additional 20,310 shares during the last quarter. Boston Trust Walden Corp increased its stake in Chemed by 10.0% during the fourth quarter. Boston Trust Walden Corp now owns 242,172 shares of the company's stock worth $128,303,000 after acquiring an additional 22,105 shares during the last quarter. Finally, Norges Bank purchased a new stake in Chemed during the fourth quarter valued at approximately $95,872,000. Institutional investors own 95.85% of the company's stock.

Analysts Set New Price Targets

CHE has been the subject of a number of recent research reports. Royal Bank of Canada lifted their target price on Chemed from $633.00 to $667.00 and gave the stock an "outperform" rating in a report on Friday, March 14th. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

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Insider Transactions at Chemed

In related news, CEO Kevin J. Mcnamara sold 1,000 shares of Chemed stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the sale, the chief executive officer now owns 101,679 shares in the company, valued at $62,566,139.07. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.32% of the company's stock.

Chemed Price Performance

Shares of NYSE:CHE traded up $2.06 during trading hours on Monday, hitting $595.45. 9,834 shares of the company's stock traded hands, compared to its average volume of 96,963. The firm has a market capitalization of $8.70 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.15 and a beta of 0.49. The business has a fifty day moving average price of $583.16 and a 200-day moving average price of $567.72. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $625.09.

Chemed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were paid a $0.50 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. Chemed's payout ratio is 10.05%.

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.