Parr Mcknight Wealth Management Group LLC Invests $917,000 in Chemed Co. (NYSE:CHE)

Parr Mcknight Wealth Management Group LLC acquired a new position in Chemed Co. (NYSE:CHE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,730 shares of the company's stock, valued at approximately $917,000.

A number of other hedge funds have also recently made changes to their positions in CHE. Norges Bank bought a new position in Chemed during the fourth quarter valued at approximately $95,872,000. Freestone Grove Partners LP bought a new position in Chemed during the fourth quarter valued at approximately $61,664,000. Point72 Asset Management L.P. bought a new position in Chemed during the fourth quarter valued at approximately $54,587,000. Raymond James Financial Inc. bought a new position in Chemed during the fourth quarter valued at approximately $42,023,000. Finally, Citadel Advisors LLC boosted its stake in Chemed by 197.4% during the fourth quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock valued at $40,870,000 after buying an additional 51,206 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Chemed Price Performance

Shares of NYSE:CHE traded down $1.24 during trading on Thursday, hitting $571.28. The company had a trading volume of 16,923 shares, compared to its average volume of 103,001. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. Chemed Co. has a one year low of $512.12 and a one year high of $623.61. The company has a fifty day simple moving average of $582.04 and a two-hundred day simple moving average of $565.74.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.04. Chemed had a return on equity of 27.86% and a net margin of 12.69%. The firm had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same period in the prior year, the business posted $5.20 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Chemed Co. will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 102,679 shares of the company's stock, valued at approximately $60,957,441.93. This trade represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $577.86, for a total value of $866,790.00. Following the sale, the executive vice president now directly owns 16,127 shares in the company, valued at $9,319,148.22. This trade represents a 8.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $4,401,120 in the last ninety days. 3.29% of the stock is owned by company insiders.

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.