Chemed Corporation $CHE Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds reduced its Chemed stake by 8.3% in the first quarter, selling 2,813 shares and retaining 31,138 shares valued at approximately $11.8 million. Institutional investors collectively own 95.85% of the company.
• Chemed’s latest quarterly results exceeded expectations, with earnings of $5.65 per share versus the $5.30 consensus estimate. Revenue rose 1.6% year over year to $657.5 million.
• The stock opened at $510.28, near its 52-week high, while analysts maintain a consensus “Hold” rating with an average price target of $480.25. Chemed also pays a quarterly dividend of $0.60 per share, yielding about 0.5%.

Gabelli Funds LLC lessened its stake in Chemed Corporation (NYSE:CHE - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,138 shares of the company's stock after selling 2,813 shares during the quarter. Gabelli Funds LLC owned about 0.23% of Chemed worth $11,762,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Monetary Solutions Ltd purchased a new stake in Chemed during the fourth quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new stake in Chemed during the fourth quarter worth about $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Chemed in the 4th quarter worth about $27,000. Global Retirement Partners LLC lifted its stake in shares of Chemed by 200.0% in the 4th quarter. Global Retirement Partners LLC now owns 87 shares of the company's stock valued at $37,000 after purchasing an additional 58 shares in the last quarter. Finally, Rothschild Investment LLC grew its holdings in shares of Chemed by 800.0% during the 4th quarter. Rothschild Investment LLC now owns 108 shares of the company's stock worth $46,000 after purchasing an additional 96 shares during the period. 95.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chemed

In other news, Director Andrea R. Lindell sold 1,347 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $447.33, for a total transaction of $602,553.51. Following the completion of the transaction, the director owned 4,578 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $421.13, for a total transaction of $842,260.00. Following the completion of the transaction, the chief executive officer owned 90,219 shares of the company's stock, valued at approximately $37,993,927.47. This trade represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. 3.33% of the stock is owned by company insiders.

Chemed Stock Performance

Shares of Chemed stock opened at $510.28 on Monday. The firm has a market cap of $6.77 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. The firm's 50-day simple moving average is $458.59 and its 200-day simple moving average is $433.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.85. Chemed Corporation has a 1 year low of $365.20 and a 1 year high of $517.74.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $5.65 EPS for the quarter, topping analysts' consensus estimates of $5.30 by $0.35. Chemed had a net margin of 10.23% and a return on equity of 27.18%. The firm had revenue of $657.51 million during the quarter, compared to the consensus estimate of $659.22 million. During the same quarter in the previous year, the company posted $5.63 earnings per share. The firm's revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Chemed Corporation will post 22.67 earnings per share for the current fiscal year.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Thursday, May 28th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.40 annualized dividend and a yield of 0.5%. Chemed's dividend payout ratio (DPR) is currently 13.08%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Chemed from $422.00 to $436.00 and gave the stock a "sector perform" rating in a research note on Monday, April 27th. Bank of America lifted their target price on shares of Chemed from $450.00 to $510.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings raised shares of Chemed from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 17th. Zacks Research upgraded Chemed from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Finally, Wall Street Zen lowered Chemed from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Chemed presently has a consensus rating of "Hold" and an average price target of $480.25.

Chemed Profile

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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