Charles Schwab Investment Management Inc. raised its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,920 shares of the company's stock after purchasing an additional 12,738 shares during the period. Charles Schwab Investment Management Inc. owned 1.02% of Chemed worth $91,633,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CHE. Whipplewood Advisors LLC lifted its position in Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Renasant Bank lifted its position in Chemed by 2.3% during the first quarter. Renasant Bank now owns 815 shares of the company's stock valued at $501,000 after purchasing an additional 18 shares in the last quarter. Impact Capital Partners LLC lifted its position in Chemed by 2.7% during the first quarter. Impact Capital Partners LLC now owns 763 shares of the company's stock valued at $469,000 after purchasing an additional 20 shares in the last quarter. KFG Wealth Management LLC lifted its position in Chemed by 4.6% during the first quarter. KFG Wealth Management LLC now owns 525 shares of the company's stock valued at $323,000 after purchasing an additional 23 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Chemed by 16.1% in the first quarter. First Horizon Advisors Inc. now owns 173 shares of the company's stock valued at $107,000 after acquiring an additional 24 shares in the last quarter. Institutional investors own 95.85% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Bank of America lowered their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Jefferies Financial Group initiated coverage on Chemed in a research report on Friday, July 25th. They issued a "hold" rating and a $500.00 target price on the stock. Oppenheimer decreased their target price on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada decreased their target price on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $579.75.
View Our Latest Stock Analysis on CHE
Insider Activity at Chemed
In related news, Director George J. Walsh III acquired 200 shares of Chemed stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $417.10 per share, with a total value of $83,420.00. Following the completion of the purchase, the director directly owned 3,523 shares of the company's stock, valued at $1,469,443.30. The trade was a 6.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was 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. Insiders own 3.29% of the company's stock.
Chemed Trading Up 0.3%
Shares of NYSE:CHE traded up $1.13 during mid-day trading on Friday, reaching $445.00. The stock had a trading volume of 177,141 shares, compared to its average volume of 138,083. The business's 50 day moving average price is $484.76 and its 200 day moving average price is $545.33. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The company has a market cap of $6.48 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.48 and a beta of 0.46.
Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%. The company had revenue of $618.80 million for the quarter, compared to the consensus estimate of $650.60 million. During the same period in the previous year, the firm earned $5.47 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. Analysts predict that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.
Chemed Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 11th. This is an increase from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.5%. Chemed's payout ratio is presently 12.34%.
About Chemed
(
Free Report)
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.
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