Chemed Co. (NYSE:CHE) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC lessened its holdings in Chemed Co. (NYSE:CHE - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,086 shares of the company's stock after selling 2,060 shares during the period. Chemed accounts for approximately 1.7% of Formidable Asset Management LLC's holdings, making the stock its 8th biggest position. Formidable Asset Management LLC owned about 0.13% of Chemed worth $10,642,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CHE. Raymond James Financial Inc. purchased a new position in shares of Chemed during the fourth quarter valued at about $42,023,000. Charles Schwab Investment Management Inc. grew its position in shares of Chemed by 10.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 136,182 shares of the company's stock valued at $72,149,000 after purchasing an additional 13,394 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Chemed by 12.1% during the fourth quarter. Fifth Third Bancorp now owns 4,934 shares of the company's stock valued at $2,614,000 after purchasing an additional 531 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Chemed during the fourth quarter valued at about $8,138,000. Finally, Capital Insight Partners LLC grew its position in shares of Chemed by 5.3% during the fourth quarter. Capital Insight Partners LLC now owns 10,633 shares of the company's stock valued at $5,633,000 after purchasing an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CHE shares. Royal Bank of Canada upped their price objective 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 shares of Chemed from a "hold" rating to a "buy" rating in a report on Friday, March 7th.

Insider Activity

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the completion of the transaction, the executive vice president now owns 14,627 shares in the company, valued at approximately $8,454,259.73. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 1,000 shares of the company's 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 owns 101,679 shares of the company's stock, valued at approximately $62,566,139.07. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $4,401,120 over the last ninety days. 3.29% of the stock is currently owned by insiders.

Chemed Stock Up 1.7%

CHE stock traded up $9.96 during trading on Tuesday, hitting $579.53. 175,138 shares of the company's stock traded hands, compared to its average volume of 103,353. The firm has a market capitalization of $8.48 billion, a P/E ratio of 29.28, a PEG ratio of 2.15 and a beta of 0.59. The business has a fifty day simple moving average of $582.91 and a two-hundred day simple moving average of $565.59. 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 released its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $646.94 million for the quarter, compared to analyst estimates of $641.78 million. During the same period in the previous year, the company earned $5.20 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

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