Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Chemed Co. (NYSE:CHE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Chemed Co. (NYSE:CHE) by 36.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,406 shares of the company’s stock after purchasing an additional 914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chemed were worth $1,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Chemed by 300.0% in the 4th quarter. UMB Bank n.a. now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 39 shares during the last quarter. Trust Co. of Vermont purchased a new position in Chemed in the 4th quarter valued at about $34,000. SRS Capital Advisors Inc. boosted its position in Chemed by 39.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 135 shares of the company’s stock valued at $72,000 after buying an additional 38 shares during the last quarter. Allworth Financial LP boosted its position in Chemed by 2,057.1% in the 4th quarter. Allworth Financial LP now owns 151 shares of the company’s stock valued at $83,000 after buying an additional 144 shares during the last quarter. Finally, KBC Group NV boosted its position in Chemed by 11.5% in the 3rd quarter. KBC Group NV now owns 378 shares of the company’s stock valued at $227,000 after buying an additional 39 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CHE. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Royal Bank of Canada increased their price target on shares of Chemed from $633.00 to $667.00 and gave the stock an “outperform” rating in a research report on Friday.

Insider Buying and Selling

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 in the company, valued at $60,957,441.93. This represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian C. Judkins acquired 145 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $519.50 per share, for a total transaction of $75,327.50. Following the purchase, the vice president now owns 1,678 shares of the company’s stock, valued at $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is owned by company insiders.

Chemed Stock Performance

Shares of CHE stock opened at $608.63 on Tuesday. Chemed Co. has a one year low of $512.12 and a one year high of $653.75. The company’s 50-day simple moving average is $561.91 and its 200-day simple moving average is $564.94. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.15 and a beta of 0.43.

Chemed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, February 24th. This represents a $2.00 annualized dividend and a yield of 0.33%. Chemed’s dividend payout ratio (DPR) is 10.05%.

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.