Cresset Asset Management LLC Sells 1,187 Shares of Chemed Co. (NYSE:CHE)

Cresset Asset Management LLC reduced its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 72.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448 shares of the company's stock after selling 1,187 shares during the period. Cresset Asset Management LLC's holdings in Chemed were worth $237,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in Chemed by 300.0% in the fourth quarter. UMB Bank n.a. now owns 52 shares of the company's stock worth $28,000 after acquiring an additional 39 shares in the last quarter. Atala Financial Inc purchased a new position in Chemed in the fourth quarter worth $29,000. CBIZ Investment Advisory Services LLC grew its position in Chemed by 64.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock worth $30,000 after acquiring an additional 22 shares in the last quarter. Trust Co. of Vermont purchased a new position in Chemed in the fourth quarter worth $34,000. Finally, Tortoise Investment Management LLC grew its position in Chemed by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock worth $41,000 after acquiring an additional 34 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction dated Wednesday, May 7th. The shares were 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 $9,319,148.22. This represents a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $615.33, for a total transaction of $615,330.00. Following the completion of the transaction, the chief executive officer now directly owns 101,679 shares of the company's stock, valued at approximately $62,566,139.07. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock valued at $4,401,120. Insiders own 3.29% of the company's stock.

Analysts Set New Price Targets

CHE has been the subject of several research reports. Royal Bank of Canada upped 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. Wall Street Zen raised shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Chemed Price Performance

Chemed stock traded up $7.54 during mid-day trading on Friday, hitting $568.98. The company's stock had a trading volume of 113,071 shares, compared to its average volume of 102,833. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. The business has a 50 day moving average price of $583.60 and a 200-day moving average price of $565.34. 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 issued its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating the consensus estimate of $5.59 by $0.04. The firm had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.20 earnings per share. On average, equities research analysts expect that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, May 29th. Chemed's dividend payout ratio (DPR) is 9.74%.

Chemed 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.