Allspring Global Investments Holdings LLC Reduces Holdings in Chemed Corporation (NYSE:CHE)

Allspring Global Investments Holdings LLC cut its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 29.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,374 shares of the company's stock after selling 13,678 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of Chemed worth $20,025,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Neuberger Berman Group LLC raised its position in Chemed by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 501,562 shares of the company's stock valued at $265,726,000 after purchasing an additional 5,809 shares during the period. Geode Capital Management LLC raised its holdings in shares of Chemed by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 340,409 shares of the company's stock valued at $180,654,000 after buying an additional 4,966 shares during the period. FMR LLC lifted its stake in Chemed by 18.9% during the 4th quarter. FMR LLC now owns 283,790 shares of the company's stock worth $150,352,000 after acquiring an additional 45,174 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Chemed by 8.2% during the 4th quarter. JPMorgan Chase & Co. now owns 266,786 shares of the company's stock valued at $141,343,000 after acquiring an additional 20,310 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Chemed by 5.1% in the 4th quarter. Epoch Investment Partners Inc. now owns 252,237 shares of the company's stock valued at $133,635,000 after acquiring an additional 12,167 shares in the last quarter. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Chemed Trading Up 0.3%

Shares of CHE stock traded up $1.37 during trading hours on Friday, hitting $472.61. The company's stock had a trading volume of 90,753 shares, compared to its average volume of 110,862. The business has a fifty day moving average of $555.54 and a 200-day moving average of $562.88. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.28 and a beta of 0.50. Chemed Corporation has a twelve month low of $469.80 and a twelve month high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.04. The business had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. Chemed had a net margin of 12.40% and a return on equity of 27.58%. The company's quarterly 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. On average, equities analysts expect that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Thursday, May 29th. Chemed's dividend payout ratio (DPR) is 9.74%.

Insider Buying and Selling

In other news, CEO Kevin J. Mcnamara sold 1,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the sale, the chief executive officer directly owned 101,197 shares of the company's stock, valued at $58,335,010.65. The trade was a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the sale, the executive vice president directly owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock worth $2,598,450. 3.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CHE has been the subject of a number of recent research reports. Bank of America decreased their price target on shares of Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Wall Street Zen cut Chemed from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $640.00 price target (down previously from $674.00) on shares of Chemed in a research report on Monday, June 30th.

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.