Bank of New York Mellon Corp Acquires 3,782 Shares of Chemed Corporation (NYSE:CHE)

Bank of New York Mellon Corp grew its position in Chemed Corporation (NYSE:CHE - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 146,037 shares of the company's stock after buying an additional 3,782 shares during the period. Bank of New York Mellon Corp owned approximately 1.00% of Chemed worth $89,860,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CHE. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Chemed in the first quarter worth approximately $8,560,000. Silver Oak Securities Incorporated bought a new stake in shares of Chemed in the first quarter worth approximately $309,000. First Horizon Advisors Inc. grew its stake in shares of Chemed by 16.1% in the first quarter. First Horizon Advisors Inc. now owns 173 shares of the company's stock worth $107,000 after acquiring an additional 24 shares during the period. WCM Investment Management LLC bought a new stake in shares of Chemed in the first quarter worth approximately $346,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of Chemed in the first quarter worth approximately $265,000. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the transaction, the chief executive officer owned 101,197 shares of the company's stock, valued at $58,335,010.65. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.99, for a total transaction of $866,985.00. Following the transaction, the executive vice president directly owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock worth $2,598,450 in the last ninety days. Insiders own 3.29% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on CHE shares. Bank of America reduced their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $640.00 price target (down from $674.00) on shares of Chemed in a research note on Monday, June 30th. Finally, Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Chemed Trading Up 1.0%

NYSE CHE traded up $4.51 during trading hours on Monday, hitting $464.42. 101,272 shares of the company's stock traded hands, compared to its average volume of 129,799. The business's fifty day moving average price is $544.66 and its two-hundred day moving average price is $561.23. The firm has a market capitalization of $6.79 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.21 and a beta of 0.50. Chemed Corporation has a 52 week low of $457.44 and a 52 week high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.40% and a return on equity of 27.58%. The company had revenue of $646.94 million during the quarter, compared to analyst estimates of $641.78 million. During the same period in the previous year, the business posted $5.20 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, May 29th. Chemed's dividend payout ratio is currently 9.74%.

Chemed Company Profile

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.