Kayne Anderson Rudnick Investment Management LLC Sells 10,820 Shares of Chemed Co. (NYSE:CHE)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of Chemed Co. (NYSE:CHE) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 582,134 shares of the company’s stock after selling 10,820 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Chemed were worth $308,415,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its stake 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 purchasing an additional 22 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Chemed by 64.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 56 shares of the company’s stock valued at $30,000 after acquiring an additional 22 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Chemed by 13.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company’s stock valued at $98,000 after acquiring an additional 22 shares in the last quarter. Independent Advisor Alliance raised its holdings in Chemed by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 2,279 shares of the company’s stock valued at $1,207,000 after acquiring an additional 25 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Chemed by 7.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 498 shares of the company’s stock valued at $264,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 95.85% of the company’s stock.

Insider Transactions at Chemed

In other news, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $576.45, for a total value of $864,675.00. Following the completion of the transaction, the chief executive officer now directly owns 101,197 shares of the company’s stock, valued at approximately $58,335,010.65. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 7,500 shares of company stock valued at $4,401,120. Corporate insiders own 3.29% of the company’s stock.

Chemed Stock Up 1.3%

Chemed stock opened at $568.98 on Friday. The business has a 50 day moving average price of $583.60 and a two-hundred day moving average price of $565.45. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. Chemed Co. has a 12 month low of $512.12 and a 12 month high of $623.61.

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

Chemed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Chemed’s payout ratio is presently 9.74%.

Wall Street Analysts Forecast Growth

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

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.