Royal Bank of Canada lifted its stake in shares of Chemed Co. (NYSE:CHE) by 39.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,376 shares of the company’s stock after buying an additional 10,512 shares during the period. Royal Bank of Canada owned about 0.24% of Chemed worth $16,192,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its position in shares of Chemed by 28.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 462 shares of the company’s stock valued at $200,000 after buying an additional 101 shares during the last quarter. MML Investors Services LLC boosted its position in Chemed by 22.2% in the first quarter. MML Investors Services LLC now owns 1,077 shares of the company’s stock worth $467,000 after purchasing an additional 196 shares during the last quarter. Bank of America Corp DE boosted its position in Chemed by 9.9% in the fourth quarter. Bank of America Corp DE now owns 176,097 shares of the company’s stock worth $77,353,000 after purchasing an additional 15,808 shares during the last quarter. KBC Group NV purchased a new position in Chemed in the fourth quarter worth $2,560,000. Finally, Marshall Wace LLP purchased a new position in Chemed in the fourth quarter worth $1,715,000. 88.94% of the stock is currently owned by institutional investors.

Shares of CHE opened at $444.66 on Friday. The firm has a market cap of $7.14 billion, a PE ratio of 32.19, a PEG ratio of 2.81 and a beta of 0.70. The stock’s fifty day moving average price is $454.58 and its two-hundred day moving average price is $446.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.81 and a quick ratio of 0.78. Chemed Co. has a 1 year low of $330.01 and a 1 year high of $513.75.

Chemed (NYSE:CHE) last issued its earnings results on Tuesday, April 28th. The company reported $3.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.65 by $0.03. The firm had revenue of $515.80 million for the quarter, compared to analyst estimates of $523.04 million. Chemed had a return on equity of 35.99% and a net margin of 11.60%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. Sell-side analysts anticipate that Chemed Co. will post 16.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.29%. Chemed’s payout ratio is 9.18%.

In related news, Director Patrick P. Grace sold 1,520 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $450.18, for a total transaction of $684,273.60. Following the sale, the director now directly owns 4,399 shares in the company, valued at approximately $1,980,341.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $431.36, for a total value of $3,019,520.00. Following the sale, the chief executive officer now owns 143,727 shares in the company, valued at $61,998,078.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,020 shares of company stock worth $7,212,353. 3.96% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on the company. ValuEngine raised Chemed from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Royal Bank of Canada raised Chemed from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $448.00 to $535.00 in a research report on Tuesday, March 10th. Finally, Zacks Investment Research raised Chemed from a “hold” rating to a “buy” rating and set a $489.00 price objective on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $509.80.

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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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