Citadel Advisors LLC Increases Stock Position in Chemed Co. (NYSE:CHE)

Citadel Advisors LLC raised its holdings in shares of Chemed Co. (NYSE:CHE - Free Report) by 197.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,143 shares of the company's stock after purchasing an additional 51,206 shares during the period. Citadel Advisors LLC owned 0.51% of Chemed worth $40,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Chemed in the 4th quarter worth approximately $95,872,000. Freestone Grove Partners LP bought a new stake in Chemed in the 4th quarter worth approximately $61,664,000. Raymond James Financial Inc. bought a new stake in Chemed in the 4th quarter worth approximately $42,023,000. FMR LLC grew its position in Chemed by 18.9% in the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock worth $150,352,000 after purchasing an additional 45,174 shares during the period. Finally, Principal Financial Group Inc. grew its position in Chemed by 114.1% in the 4th quarter. Principal Financial Group Inc. now owns 74,658 shares of the company's stock worth $39,554,000 after purchasing an additional 39,791 shares during the period. Institutional investors own 95.85% of the company's stock.

Analyst Upgrades and Downgrades

CHE has been the subject of a number of research analyst reports. StockNews.com raised shares of Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. Royal Bank of Canada lifted their target price on shares of Chemed from $667.00 to $674.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th.

Insider Buying and Selling at Chemed

In other news, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $593.67, for a total value of $1,187,340.00. Following the completion of the transaction, the chief executive officer now owns 102,679 shares of the company's stock, valued at $60,957,441.93. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $577.86, for a total value of $866,790.00. Following the completion of the transaction, the executive vice president now directly owns 16,127 shares of the company's stock, valued at approximately $9,319,148.22. This trade represents a 8.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock valued at $3,534,135 over the last 90 days. 3.29% of the stock is currently owned by corporate insiders.

Chemed Stock Performance

Shares of Chemed stock traded down $12.65 on Tuesday, hitting $556.46. 125,394 shares of the company's stock were exchanged, compared to its average volume of 100,662. The company has a 50-day simple moving average of $588.00 and a 200-day simple moving average of $564.58. The stock has a market capitalization of $8.14 billion, a PE ratio of 28.12, a PEG ratio of 2.15 and a beta of 0.59. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business had revenue of $646.94 million during the quarter, compared to analysts' expectations of $641.78 million. During the same quarter in the prior year, the business posted $5.20 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The company 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 yield of 0.36%. The ex-dividend date of this dividend was Monday, February 24th. Chemed's payout ratio is 9.74%.

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.