Bank of New York Mellon Corp Acquires Shares of 94,045 Chemed Corporation $CHE

Key Points

• Bank of New York Mellon acquired 94,045 Chemed shares valued at approximately $43.8 million, giving it a 0.72% stake. Institutional investors collectively own 95.85% of the company.
• Chemed exceeded quarterly earnings expectations, reporting $6.06 EPS and $673.25 million in revenue, while revenue rose 8.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $530.75.
• The company increased its quarterly dividend from $0.60 to $0.70 per share, equating to a $2.80 annualized payout and a 0.5% yield; meanwhile, insiders sold more than 6,500 shares worth about $3.4 million over the last quarter.

Bank of New York Mellon Corp acquired a new position in shares of Chemed Corporation (NYSE:CHE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 94,045 shares of the company's stock, valued at approximately $43,800,000. Bank of New York Mellon Corp owned approximately 0.72% of Chemed at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CHE. Commonwealth Equity Services LLC grew its stake in Chemed by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 734 shares of the company's stock worth $314,000 after purchasing an additional 22 shares in the last quarter. Cim LLC raised its position in shares of Chemed by 1.1% during the 3rd quarter. Cim LLC now owns 2,139 shares of the company's stock valued at $958,000 after acquiring an additional 24 shares in the last quarter. Eukles Asset Management lifted its stake in Chemed by 0.4% during the fourth quarter. Eukles Asset Management now owns 6,056 shares of the company's stock worth $2,591,000 after purchasing an additional 25 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Chemed by 65.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 81 shares of the company's stock worth $38,000 after purchasing an additional 32 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Chemed by 9.4% in the first quarter. EverSource Wealth Advisors LLC now owns 406 shares of the company's stock worth $153,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 95.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CHE shares. Oppenheimer increased their target price on shares of Chemed from $500.00 to $590.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Royal Bank Of Canada boosted their price objective on shares of Chemed from $436.00 to $548.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Chemed from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Bank of America reissued a "neutral" rating on shares of Chemed in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Chemed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $530.75.

Chemed Stock Down 5.1%

CHE stock opened at $520.34 on Friday. The stock has a market cap of $6.80 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.51. The firm's 50-day simple moving average is $507.71 and its 200 day simple moving average is $449.15. Chemed Corporation has a fifty-two week low of $365.20 and a fifty-two week high of $557.00. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.17.

Chemed (NYSE:CHE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.60 by $0.46. Chemed had a net margin of 10.60% and a return on equity of 31.77%. The firm had revenue of $673.25 million during the quarter, compared to analyst estimates of $665.04 million. During the same period in the previous year, the business posted $4.27 EPS. Chemed's revenue was up 8.8% on a year-over-year basis. Chemed has set its FY 2026 guidance at 25.000-25.750 EPS. As a group, sell-side analysts predict that Chemed Corporation will post 23.18 EPS for the current year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 17th. This is an increase from Chemed's previous quarterly dividend of $0.60. Chemed's dividend payout ratio (DPR) is presently 14.06%.

Insiders Place Their Bets

In other news, Director Andrea R. Lindell sold 1,347 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $447.33, for a total value of $602,553.51. Following the completion of the transaction, the director owned 4,578 shares of the company's stock, valued at approximately $2,047,876.74. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $539.51, for a total value of $1,079,020.00. Following the completion of the transaction, the chief executive officer directly owned 70,418 shares of the company's stock, valued at approximately $37,991,215.18. The trade was a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,537 shares of company stock worth $3,406,014. Insiders own 3.33% of the company's stock.

About Chemed

Chemed Corporation is a diversified provider of essential home services and healthcare solutions in the United States. Headquartered in Cincinnati, Ohio, the company operates through two principal business segments—Roto-Rooter and Vitas Healthcare. Since its founding in 1974, Chemed has built a reputation for reliability and expertise, serving both residential and commercial customers across a broad range of markets.

The Roto-Rooter segment offers a comprehensive suite of plumbing, drain cleaning and water restoration services.

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