Formidable Asset Management LLC Has $10.64 Million Stock Holdings in Chemed Co. (NYSE:CHE)

Formidable Asset Management LLC cut its holdings in Chemed Co. (NYSE:CHE - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,086 shares of the company's stock after selling 2,060 shares during the period. Chemed makes up approximately 1.7% of Formidable Asset Management LLC's portfolio, making the stock its 8th biggest position. Formidable Asset Management LLC owned approximately 0.13% of Chemed worth $10,642,000 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. increased its holdings 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 purchasing an additional 39 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Chemed in the 4th quarter valued at $29,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock valued at $30,000 after acquiring an additional 22 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of Chemed by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 78 shares of the company's stock valued at $41,000 after acquiring an additional 34 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Chemed by 633.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company's stock valued at $47,000 after acquiring an additional 76 shares in the last quarter. 95.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Chemed Stock Down 0.2%

CHE stock traded down $1.24 during midday trading on Thursday, reaching $571.28. 16,923 shares of the company's stock traded hands, compared to its average volume of 103,001. The firm's fifty day moving average price is $582.04 and its 200-day moving average price is $565.74. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 2.15 and a beta of 0.59. Chemed Co. has a 52 week low of $512.12 and a 52 week high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, topping the consensus estimate of $5.59 by $0.04. The company 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 firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $5.20 earnings per share. Analysts forecast that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Announces Dividend

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

Insider Buying and Selling

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the company's 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 sale, the executive vice president now directly owns 16,127 shares of the company's stock, valued at approximately $9,319,148.22. This represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $615.33, for a total value 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. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,500 shares of company stock worth $4,401,120. 3.29% of the stock is owned by corporate insiders.

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.