Candriam S.C.A. Raises Stake in Chemed Corporation $CHE

Key Points

• Candriam S.C.A. increased its stake in Chemed Corporation by 207.7% in Q1, acquiring 30,495 additional shares, bringing its total ownership to approximately 0.31% valued at $27.8 million.
• Chemed reported a net profit margin of 11.56% for its latest quarter, with earnings per share (EPS) of $4.27, missing analyst expectations of $6.02.
• The company announced a quarterly dividend increase from $0.50 to $0.60, which will be paid on August 29th, yielding an annualized dividend of $2.40.

Candriam S.C.A. increased its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 207.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,178 shares of the company's stock after purchasing an additional 30,495 shares during the quarter. Candriam S.C.A. owned 0.31% of Chemed worth $27,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Neuberger Berman Group LLC lifted its position in shares of Chemed by 3.9% in the first quarter. Neuberger Berman Group LLC now owns 521,212 shares of the company's stock valued at $320,712,000 after acquiring an additional 19,650 shares in the last quarter. Boston Trust Walden Corp raised its stake in Chemed by 1.7% in the 1st quarter. Boston Trust Walden Corp now owns 246,351 shares of the company's stock valued at $151,585,000 after purchasing an additional 4,179 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chemed by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 218,675 shares of the company's stock valued at $134,547,000 after purchasing an additional 19,421 shares in the last quarter. Northern Trust Corp boosted its stake in Chemed by 3.4% during the 1st quarter. Northern Trust Corp now owns 215,523 shares of the company's stock worth $132,616,000 after purchasing an additional 6,988 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Chemed by 131,200.8% during the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock worth $102,606,000 after buying an additional 166,625 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Price Performance

CHE traded down $7.23 during trading hours on Tuesday, reaching $448.78. The company's stock had a trading volume of 57,538 shares, compared to its average volume of 137,678. The stock has a market cap of $6.54 billion, a PE ratio of 23.07, a P/E/G ratio of 2.53 and a beta of 0.46. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The business's 50-day moving average is $470.72 and its 200-day moving average is $540.00.

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

Chemed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Chemed's previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 11th. Chemed's dividend payout ratio (DPR) is presently 12.34%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Chemed in a research note on Friday, July 25th. They issued a "hold" rating and a $500.00 price target on the stock. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Bank of America lowered their target price on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Royal Bank Of Canada dropped their price target on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Oppenheimer cut their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Chemed presently has a consensus rating of "Moderate Buy" and a consensus target price of $579.75.

Insider Activity at Chemed

In related news, Director George J. Walsh III acquired 200 shares of Chemed stock in a transaction dated Monday, August 4th. The shares were acquired at an average cost of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the purchase, the director owned 3,523 shares in the company, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction on Monday, August 4th. The shares were sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. 3.29% of the stock is owned by corporate insiders.

About Chemed

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.