Wellington Management Group LLP Cuts Stock Holdings in Chemed Co. (NYSE:CHE)

Wellington Management Group LLP cut its stake in Chemed Co. (NYSE:CHE) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,244 shares of the company’s stock after selling 998 shares during the period. Wellington Management Group LLP’s holdings in Chemed were worth $1,189,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Chemed by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock valued at $201,820,000 after buying an additional 15,791 shares during the period. JPMorgan Chase & Co. grew its holdings in Chemed by 8.2% during the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company’s stock worth $141,343,000 after acquiring an additional 20,310 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Chemed by 10.0% in the 4th quarter. Boston Trust Walden Corp now owns 242,172 shares of the company’s stock valued at $128,303,000 after purchasing an additional 22,105 shares during the last quarter. Norges Bank purchased a new stake in shares of Chemed in the 4th quarter valued at approximately $95,872,000. Finally, Copeland Capital Management LLC raised its holdings in shares of Chemed by 16.8% in the 4th quarter. Copeland Capital Management LLC now owns 151,623 shares of the company’s stock valued at $80,330,000 after purchasing an additional 21,834 shares in the last quarter. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Trading Up 0.2 %

Shares of Chemed stock opened at $591.44 on Monday. The company has a fifty day simple moving average of $583.16 and a 200-day simple moving average of $567.72. Chemed Co. has a 12-month low of $512.12 and a 12-month high of $625.09. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.15 and a beta of 0.49.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, February 24th. Chemed’s payout ratio is 10.05%.

Insiders Place Their Bets

In related news, CEO Kevin J. Mcnamara sold 1,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $615.33, for a total value of $615,330.00. Following the completion of the sale, the chief executive officer now directly owns 101,679 shares of the company’s stock, valued at $62,566,139.07. This represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Royal Bank of Canada raised their target price on Chemed from $633.00 to $667.00 and gave the stock an “outperform” rating in a research report on Friday, March 14th.

About Chemed

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.