Daiwa Securities Group Inc. Sells 3,270 Shares of Chemed Co. (NYSE:CHE)

Daiwa Securities Group Inc. trimmed its holdings in shares of Chemed Co. (NYSE:CHE - Free Report) by 37.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,549 shares of the company's stock after selling 3,270 shares during the period. Daiwa Securities Group Inc.'s holdings in Chemed were worth $3,245,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morgan Stanley increased its position in shares of Chemed by 175.0% during the 4th quarter. Morgan Stanley now owns 362,270 shares of the company's stock worth $184,914,000 after purchasing an additional 230,531 shares in the last quarter. Durable Capital Partners LP acquired a new stake in shares of Chemed during the 4th quarter worth about $98,742,000. Norges Bank acquired a new stake in shares of Chemed during the 4th quarter worth about $71,705,000. Invesco Ltd. increased its position in shares of Chemed by 144.0% during the 1st quarter. Invesco Ltd. now owns 184,312 shares of the company's stock worth $93,363,000 after purchasing an additional 108,759 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Chemed during the 3rd quarter worth about $47,655,000. 95.85% of the stock is owned by institutional investors.

Insider Transactions at Chemed

In other news, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the completion of the sale, the vice president now owns 1,422 shares in the company, valued at approximately $917,190. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Michael D. Witzeman sold 2,650 shares of Chemed stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $643.14, for a total transaction of $1,704,321.00. Following the transaction, the chief financial officer now owns 2,882 shares of the company's stock, valued at approximately $1,853,529.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $645.00, for a total transaction of $7,196,910.00. Following the transaction, the vice president now directly owns 1,422 shares in the company, valued at approximately $917,190. The disclosure for this sale can be found here. Insiders sold a total of 15,808 shares of company stock worth $10,184,531 in the last quarter. 4.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Chemed from $625.00 to $650.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Royal Bank of Canada raised their price objective on shares of Chemed from $604.00 to $712.00 and gave the company an "outperform" rating in a research report on Monday, March 4th.

Chemed Stock Performance

CHE traded up $2.99 during midday trading on Friday, hitting $600.41. The company had a trading volume of 83,518 shares, compared to its average volume of 56,787. Chemed Co. has a twelve month low of $492.84 and a twelve month high of $654.62. The firm's 50-day simple moving average is $622.02 and its 200-day simple moving average is $589.10. The company has a market capitalization of $9.08 billion, a PE ratio of 33.51, a P/E/G ratio of 2.41 and a beta of 0.42.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $6.60 EPS for the quarter, topping the consensus estimate of $6.25 by $0.35. Chemed had a net margin of 12.03% and a return on equity of 32.29%. The company had revenue of $585.90 million during the quarter, compared to analysts' expectations of $586.64 million. During the same quarter in the previous year, the company earned $5.39 EPS. Chemed's revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Chemed Co. will post 21.99 EPS for the current fiscal year.

Chemed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, February 23rd. Chemed's dividend payout ratio is 8.93%.

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.