JPMorgan Chase & Co. Sells 24,863 Shares of Chemed Co. (NYSE:CHE)

JPMorgan Chase & Co. decreased its holdings in Chemed Co. (NYSE:CHE - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,476 shares of the company's stock after selling 24,863 shares during the period. JPMorgan Chase & Co. owned about 1.64% of Chemed worth $148,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. American National Bank & Trust acquired a new position in Chemed during the third quarter worth approximately $61,000. GAMMA Investing LLC grew its holdings in shares of Chemed by 60.5% in the 3rd quarter. GAMMA Investing LLC now owns 138 shares of the company's stock worth $83,000 after acquiring an additional 52 shares during the period. Quarry LP increased its holdings in Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company's stock valued at $103,000 after acquiring an additional 166 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Chemed in the third quarter worth $201,000. Finally, Farther Finance Advisors LLC lifted its holdings in Chemed by 2,314.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 338 shares of the company's stock valued at $203,000 after purchasing an additional 324 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Trading Up 0.4 %

CHE stock traded up $1.97 during trading on Wednesday, hitting $529.80. The company had a trading volume of 96,008 shares, compared to its average volume of 87,435. The business has a 50 day moving average of $551.77 and a 200 day moving average of $562.94. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.32 and a beta of 0.46. Chemed Co. has a fifty-two week low of $512.12 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.76 by ($0.12). The company had revenue of $606.18 million during the quarter, compared to the consensus estimate of $612.22 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. Chemed's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.32 EPS. As a group, equities analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Chemed's dividend payout ratio is currently 10.11%.

Insider Activity at Chemed

In related news, EVP Spencer S. Lee sold 732 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $575.62, for a total transaction of $421,353.84. Following the sale, the executive vice president now directly owns 18,287 shares in the company, valued at $10,526,362.94. This represents a 3.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $572.77, for a total transaction of $1,145,540.00. Following the completion of the transaction, the chief executive officer now directly owns 101,735 shares of the company's stock, valued at approximately $58,270,755.95. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Chemed from $697.00 to $633.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a research report on Saturday, November 30th.

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.