Raymond James Financial Inc. Reduces Stock Position in Chemed Corporation $CHE

Key Points

• Raymond James Financial Inc. reduced its stake in Chemed Corporation by 3.8%, owning 76,272 shares worth approximately $46.93 million as of the latest SEC filing.
• Chemed reported earnings per share of $4.27 for the last quarter, falling short of analysts' expectations, while revenue was $618.8 million, below the $650.6 million forecast.
• The company announced an increase in its quarterly dividend from $0.50 to $0.60 per share, representing an annual yield of 0.5% and a payout ratio of 12.34%.

Raymond James Financial Inc. lessened its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,272 shares of the company's stock after selling 3,047 shares during the quarter. Raymond James Financial Inc. owned 0.52% of Chemed worth $46,932,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. grew its holdings in shares of Chemed by 14.2% during the first quarter. Bessemer Group Inc. now owns 950 shares of the company's stock valued at $585,000 after buying an additional 118 shares during the last quarter. DAVENPORT & Co LLC bought a new position in Chemed in the 1st quarter valued at about $265,000. Mather Group LLC. lifted its position in Chemed by 53.3% in the 1st quarter. Mather Group LLC. now owns 161 shares of the company's stock valued at $99,000 after acquiring an additional 56 shares in the last quarter. Park Place Capital Corp boosted its stake in Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock valued at $2,198,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Synergy Asset Management LLC increased its holdings in Chemed by 108.4% during the 1st quarter. Synergy Asset Management LLC now owns 3,049 shares of the company's stock worth $1,876,000 after purchasing an additional 1,586 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Stock Up 1.3%

CHE stock traded up $5.9150 during midday trading on Friday, hitting $460.0050. The company's stock had a trading volume of 164,599 shares, compared to its average volume of 191,369. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.53 and a beta of 0.46. The stock's 50-day moving average price is $472.64 and its 200 day moving average price is $540.66. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.02 by ($1.75). The business had revenue of $618.80 million for the quarter, compared to analysts' expectations of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period 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. As a group, equities analysts forecast 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 given a $0.60 dividend. This is a positive change from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. Chemed's payout ratio is presently 12.34%.

Insider Transactions at Chemed

In related news, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George J. Walsh III acquired 200 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the purchase, the director 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 disclosure for this purchase can be found here. 3.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHE has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on Chemed in a report on Friday, July 25th. They issued a "hold" rating and a $500.00 target price on the stock. Bank of America lowered their price target on Chemed from $708.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Oppenheimer cut their price objective on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Royal Bank Of Canada reduced their target price on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $579.75.

Chemed Company 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.