Mackenzie Financial Corp Reduces Holdings in Chemed Co. (NYSE:CHE)

Mackenzie Financial Corp reduced its stake in shares of Chemed Co. (NYSE:CHE - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,629 shares of the company's stock after selling 1,580 shares during the quarter. Mackenzie Financial Corp's holdings in Chemed were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its holdings in Chemed by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 457 shares of the company's stock valued at $242,000 after buying an additional 22 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of Chemed by 64.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company's stock valued at $30,000 after purchasing an additional 22 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Chemed by 13.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company's stock valued at $98,000 after purchasing an additional 22 shares in the last quarter. Independent Advisor Alliance grew its position in shares of Chemed by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 2,279 shares of the company's stock valued at $1,207,000 after purchasing an additional 25 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Chemed by 7.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 498 shares of the company's stock valued at $264,000 after purchasing an additional 33 shares in the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CHE. Royal Bank of Canada raised 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 upgraded Chemed from a "hold" rating to a "buy" rating in a research report on Friday, March 7th.

Insider Activity at Chemed

In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of the firm'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 sale, the executive vice president now owns 14,627 shares of the company's stock, valued at $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 102,679 shares of the company's stock, valued at approximately $60,957,441.93. The trade was a 1.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,500 shares of company stock valued at $4,401,120. Insiders own 3.29% of the company's stock.

Chemed Price Performance

Shares of Chemed stock traded up $1.43 during trading on Friday, reaching $574.62. 79,372 shares of the stock traded hands, compared to its average volume of 103,140. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.15 and a beta of 0.59. The business has a fifty day simple moving average of $580.66 and a two-hundred day simple moving average of $565.88. 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 announced its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.04. Chemed had a net margin of 12.69% and a return on equity of 27.86%. The firm had revenue of $646.94 million during the quarter, compared to the consensus estimate of $641.78 million. During the same quarter last year, the firm earned $5.20 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts predict that Chemed Co. will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The firm 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 $0.50 dividend. 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 payout ratio 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.