Commerce Bank Sells 4,702 Shares of Chemed Co. (NYSE:CHE)

Commerce Bank cut its holdings in Chemed Co. (NYSE:CHE - Free Report) by 75.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,505 shares of the company's stock after selling 4,702 shares during the period. Commerce Bank's holdings in Chemed were worth $797,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CHE. Franklin Resources Inc. lifted its stake in shares of Chemed by 21.3% in the 3rd quarter. Franklin Resources Inc. now owns 8,800 shares of the company's stock valued at $5,282,000 after acquiring an additional 1,544 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Chemed by 11.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 880 shares of the company's stock worth $466,000 after purchasing an additional 90 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Chemed by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 13,639 shares of the company's stock worth $7,242,000 after buying an additional 635 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Chemed by 18.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,188 shares of the company's stock valued at $1,689,000 after buying an additional 496 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in Chemed by 21.9% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 7,150 shares of the company's stock valued at $3,788,000 after buying an additional 1,285 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of Chemed stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Chemed from $633.00 to $667.00 and gave the company an "outperform" rating in a research report on Friday, March 14th. StockNews.com upgraded Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Chemed Stock Performance

CHE stock traded up $6.69 on Monday, reaching $562.43. The company's stock had a trading volume of 19,089 shares, compared to its average volume of 98,425. The business has a fifty day simple moving average of $587.66 and a two-hundred day simple moving average of $566.73. The firm has a market cap of $8.22 billion, a PE ratio of 28.42, a PEG ratio of 2.15 and a beta of 0.49. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $623.61.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Chemed's dividend 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.