Van Berkom & Associates Inc. Reduces Position in Chemed Corporation (NYSE:CHE)

Key Points

• Van Berkom & Associates Inc. has reduced its holdings in Chemed Corporation by 15.9%, currently holding a stock position valued at approximately $66.45 million.
• Chemed's CEO, Kevin J. Mcnamara, recently sold 1,500 shares of the company's stock, indicating a 1.46% decrease in his ownership.
• Recent analyst reports have resulted in mixed reviews for Chemed, with price targets being updated, including Bank of America's reduction from $708.00 to $650.00 while maintaining a "buy" rating.

Van Berkom & Associates Inc. lowered its position in Chemed Corporation (NYSE:CHE - Free Report) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,987 shares of the company's stock after selling 20,482 shares during the quarter. Chemed comprises approximately 2.1% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 26th biggest holding. Van Berkom & Associates Inc. owned 0.74% of Chemed worth $66,447,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Chemed by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after acquiring an additional 118 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in Chemed during the 1st quarter valued at $265,000. Mather Group LLC. raised its stake in Chemed by 53.3% during the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after acquiring an additional 56 shares in the last quarter. Park Place Capital Corp raised its stake in Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Synergy Asset Management LLC increased its position in shares of Chemed by 108.4% during the 1st quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock valued at $1,876,000 after purchasing an additional 1,586 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

Insider Activity

In related news, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the transaction, the chief executive officer owned 101,197 shares in the company, valued at approximately $58,335,010.65. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Spencer S. Lee sold 1,500 shares of the company's stock in a transaction that occurred on 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 owned 14,627 shares in the company, valued at $8,454,259.73. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,500 shares of company stock worth $2,598,450. Corporate insiders own 3.29% of the company's stock.

Chemed Price Performance

Shares of CHE stock traded down $6.17 during trading hours on Monday, reaching $464.55. 168,751 shares of the company were exchanged, compared to its average volume of 130,856. Chemed Corporation has a fifty-two week low of $449.01 and a fifty-two week high of $623.60. The stock's fifty day moving average is $522.47 and its two-hundred day moving average is $556.31. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 2.26 and a beta of 0.50.

Chemed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, May 29th. This represents a $2.00 annualized dividend and a yield of 0.43%. Chemed's dividend payout ratio is presently 9.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHE shares. Bank of America dropped their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Jefferies Financial Group initiated coverage on Chemed in a research note on Friday. They issued a "hold" rating and a $500.00 price objective on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $640.00 target price (down from $674.00) on shares of Chemed in a report on Monday, June 30th. Finally, Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.