Chemed Corporation $CHE Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Chemed Corporation by 4.4%, holding approximately 1.01% of the company worth $91.13 million as of its latest SEC filing.
• Chemed's recent earnings report revealed that the company missed analysts' expectations with earnings per share of $4.27, falling short of the $6.02 consensus estimate.
• The company declared a quarterly dividend of $0.60 per share, representing an increase from the previous dividend of $0.50, with an annual yield of 0.5% and a payout ratio of 12.34%.

Acadian Asset Management LLC lowered its position in shares of Chemed Corporation (NYSE:CHE - Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,125 shares of the company's stock after selling 6,779 shares during the period. Acadian Asset Management LLC owned 1.01% of Chemed worth $91,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its stake in shares of Chemed by 14.2% during the first quarter. Bessemer Group Inc. now owns 950 shares of the company's stock worth $585,000 after purchasing an additional 118 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Chemed during the first quarter worth $265,000. Jump Financial LLC purchased a new stake in Chemed in the first quarter valued at $2,777,000. Mather Group LLC. lifted its position in Chemed by 53.3% in the first quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after acquiring an additional 56 shares during the last quarter. Finally, Park Place Capital Corp lifted its position in Chemed by 71.2% in the first quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after acquiring an additional 1,486 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Price Performance

Shares of NYSE:CHE traded down $11.89 on Friday, reaching $446.00. The company's stock had a trading volume of 160,245 shares, compared to its average volume of 167,896. The stock's 50-day moving average is $451.83 and its two-hundred day moving average is $531.04. Chemed Corporation has a 52-week low of $408.42 and a 52-week high of $623.60. The stock has a market capitalization of $6.50 billion, a P/E ratio of 22.93, a PEG ratio of 2.66 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). Chemed had a net margin of 11.56% and a return on equity of 25.83%. The business had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. During the same period in the previous year, the company posted $5.47 earnings per share. Chemed's quarterly revenue was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Equities analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. Chemed's dividend payout ratio is currently 12.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Oppenheimer reduced their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Bank of America reduced their price target on shares of Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and boosted their price target for the company from $490.00 to $550.00 in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $578.50.

Insider Activity

In other Chemed news, Director George J. Walsh III bought 200 shares of Chemed stock in a transaction dated Monday, August 4th. The stock was acquired at an average cost of $417.10 per share, with a total value of $83,420.00. Following the completion of the acquisition, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. This represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick P. Grace sold 150 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $463.39, for a total transaction of $69,508.50. Following the transaction, the director directly owned 3,397 shares of the company's stock, valued at $1,574,135.83. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.29% of the company's stock.

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.