Bank of New York Mellon Corp Raises Stock Position in Chemed Co. (NYSE:CHE)

Bank of New York Mellon Corp increased its stake in Chemed Co. (NYSE:CHE) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 142,255 shares of the company’s stock after buying an additional 4,838 shares during the period. Bank of New York Mellon Corp’s holdings in Chemed were worth $75,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in Chemed by 300.0% in the fourth quarter. UMB Bank n.a. now owns 52 shares of the company’s stock worth $28,000 after acquiring an additional 39 shares during the period. Trust Co. of Vermont bought a new position in Chemed in the fourth quarter worth approximately $34,000. Allworth Financial LP raised its position in Chemed by 2,057.1% in the fourth quarter. Allworth Financial LP now owns 151 shares of the company’s stock worth $83,000 after acquiring an additional 144 shares during the period. Farther Finance Advisors LLC raised its position in Chemed by 2,314.3% in the third quarter. Farther Finance Advisors LLC now owns 338 shares of the company’s stock worth $203,000 after acquiring an additional 324 shares during the period. Finally, KBC Group NV raised its position in Chemed by 11.5% in the third quarter. KBC Group NV now owns 378 shares of the company’s stock worth $227,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 95.85% of the company’s stock.

Analysts Set New Price Targets

CHE has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Chemed from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th.

Insider Activity

In other news, VP Brian C. Judkins acquired 145 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $519.50 per share, for a total transaction of $75,327.50. Following the transaction, the vice president now directly owns 1,678 shares of the company’s stock, valued at approximately $871,721. This trade represents a 9.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

Chemed Price Performance

Shares of CHE stock opened at $588.93 on Tuesday. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 2.15 and a beta of 0.48. Chemed Co. has a one year low of $512.12 and a one year high of $654.62. The company’s fifty day moving average price is $546.69 and its 200-day moving average price is $563.35.

Chemed Announces Dividend

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

Chemed Company 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.