Kayne Anderson Rudnick Investment Management LLC Cuts Position in Chemed Co. (NYSE:CHE)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Chemed Co. (NYSE:CHE - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,134 shares of the company's stock after selling 10,820 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 3.87% of Chemed worth $308,415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Chemed in the fourth quarter worth about $42,023,000. Signal Advisors Wealth LLC lifted its stake in shares of Chemed by 60.7% in the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company's stock worth $2,647,000 after buying an additional 1,886 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after purchasing an additional 13,394 shares in the last quarter. Bright Rock Capital Management LLC acquired a new stake in shares of Chemed in the 4th quarter worth $1,060,000. Finally, Fifth Third Bancorp boosted its holdings in Chemed by 12.1% in the 4th quarter. Fifth Third Bancorp now owns 4,934 shares of the company's stock valued at $2,614,000 after purchasing an additional 531 shares during the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chemed

In related news, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the completion of the transaction, the chief executive officer now directly owns 101,679 shares in the company, valued at approximately $62,566,139.07. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CHE. Royal Bank of Canada lifted their target price on shares of Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a report on Friday, March 14th. StockNews.com raised Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Chemed Stock Up 1.3 %

CHE traded up $7.76 on Wednesday, hitting $587.26. 140,153 shares of the company traded hands, compared to its average volume of 98,491. The stock has a market capitalization of $8.58 billion, a PE ratio of 29.67, a PEG ratio of 2.15 and a beta of 0.49. The company has a 50 day moving average of $587.66 and a 200-day moving average of $567.54. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $5.11 EPS for the quarter, missing the consensus estimate of $5.59 by ($0.48). Chemed had a net margin of 12.69% and a return on equity of 27.86%. On average, research analysts anticipate that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. Chemed's dividend payout ratio (DPR) 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.