Chemed Co. (NYSE:CHE) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in shares of Chemed Co. (NYSE:CHE) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,083 shares of the company’s stock after selling 300 shares during the quarter. Gabelli Funds LLC’s holdings in Chemed were worth $14,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Chemed in the 4th quarter worth approximately $42,023,000. Signal Advisors Wealth LLC raised its holdings in Chemed by 60.7% during the fourth quarter. Signal Advisors Wealth LLC now owns 4,995 shares of the company’s stock worth $2,647,000 after purchasing an additional 1,886 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Chemed by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company’s stock worth $72,149,000 after purchasing an additional 13,394 shares during the period. Bright Rock Capital Management LLC bought a new position in Chemed during the 4th quarter valued at $1,060,000. Finally, Fifth Third Bancorp increased its position in shares of Chemed by 12.1% during 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 period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $593.67, for a total transaction of $1,187,340.00. Following the completion of the sale, the chief executive officer now directly owns 102,679 shares in the company, valued at $60,957,441.93. The trade was a 1.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.32% of the company’s stock.

Chemed Stock Performance

NYSE CHE opened at $582.34 on Thursday. The firm’s 50 day moving average price is $585.24 and its two-hundred day moving average price is $567.97. Chemed Co. has a twelve month low of $512.12 and a twelve month high of $623.61. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.15 and a beta of 0.49.

Chemed Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHE shares. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada upped their price target on shares of Chemed from $633.00 to $667.00 and gave the company an “outperform” rating in a report on Friday, March 14th.

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.