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

Allspring Global Investments Holdings LLC lowered its position in Chemed Corporation (NYSE:CHE - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,374 shares of the company's stock after selling 13,678 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of Chemed worth $20,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Chemed in the fourth quarter valued at about $95,872,000. GAMMA Investing LLC boosted its stake in Chemed by 131,200.8% in the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock valued at $102,606,000 after acquiring an additional 166,625 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Chemed in the fourth quarter valued at about $61,664,000. Point72 Asset Management L.P. purchased a new position in Chemed in the fourth quarter valued at about $54,587,000. Finally, Raymond James Financial Inc. purchased a new position in Chemed in the fourth quarter valued at about $42,023,000. Hedge funds and other institutional investors own 95.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CHE shares. Bank of America dropped their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank Of Canada dropped their target price on shares of Chemed from $674.00 to $640.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Wall Street Zen upgraded shares of Chemed from a "hold" rating to a "buy" rating in a research note on Friday, March 7th.

Insider Buying and Selling at Chemed

In related news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares in the company, valued at $8,454,259.73. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction on Monday, May 5th. The stock was sold at an average price of $576.45, for a total transaction of $864,675.00. Following the completion of the transaction, the chief executive officer owned 101,197 shares in the company, valued at approximately $58,335,010.65. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,500 shares of company stock worth $2,598,450. Corporate insiders own 3.29% of the company's stock.

Chemed Trading Down 2.6%

Shares of CHE stock traded down $12.35 during trading on Wednesday, reaching $471.57. 215,059 shares of the company's stock traded hands, compared to its average volume of 110,585. The company has a market capitalization of $6.90 billion, a P/E ratio of 22.97, a PEG ratio of 2.02 and a beta of 0.50. The firm's 50-day moving average is $561.01 and its 200 day moving average is $564.04. Chemed Corporation has a 1 year low of $471.39 and a 1 year high of $623.61.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $641.78 million. Chemed had a net margin of 12.40% and a return on equity of 27.58%. Chemed's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.20 EPS. As a group, sell-side analysts predict that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Thursday, May 29th. 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.