UMB Bank n.a. Boosts Stake in Chemed Co. (NYSE:CHE)

UMB Bank n.a. grew its stake in Chemed Co. (NYSE:CHE) by 219.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166 shares of the company’s stock after buying an additional 114 shares during the period. UMB Bank n.a.’s holdings in Chemed were worth $102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. KFG Wealth Management LLC raised its holdings in shares of Chemed by 4.6% in the first quarter. KFG Wealth Management LLC now owns 525 shares of the company’s stock worth $323,000 after buying an additional 23 shares during the last quarter. Impact Capital Partners LLC lifted its position in Chemed by 2.7% during the first quarter. Impact Capital Partners LLC now owns 763 shares of the company’s stock valued at $469,000 after purchasing an additional 20 shares during the period. Signal Advisors Wealth LLC lifted its position in Chemed by 28.4% during the first quarter. Signal Advisors Wealth LLC now owns 6,412 shares of the company’s stock valued at $3,945,000 after purchasing an additional 1,417 shares during the period. Vest Financial LLC acquired a new position in Chemed during the first quarter valued at $2,669,000. Finally, Thrive Wealth Management LLC acquired a new position in Chemed during the first quarter valued at $248,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Royal Bank of Canada boosted their target price on shares of Chemed from $667.00 to $674.00 and gave the company an “outperform” rating in a research report on Monday, April 28th.

Insiders Place Their Bets

In other Chemed news, CEO Kevin J. Mcnamara sold 1,500 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were 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 owns 101,197 shares in the company, valued at approximately $58,335,010.65. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 5,500 shares of company stock worth $3,213,780. Company insiders own 3.29% of the company’s stock.

Chemed Price Performance

NYSE CHE opened at $557.97 on Friday. The company has a market capitalization of $8.16 billion, a PE ratio of 28.19, a P/E/G ratio of 2.15 and a beta of 0.54. The company has a fifty day moving average of $571.86 and a 200 day moving average of $565.72. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $623.61.

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

Chemed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th will be given 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 0.36%. Chemed’s dividend payout ratio (DPR) is currently 9.74%.

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.