Chemed Corporation $CHE Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its stake in Chemed Corporation by 7.7%, now owning about 1.68% of the company, valued at approximately $151 million.
• Chemed reported a quarterly earnings per share (EPS) of $4.27, missing estimates by $1.75, while its revenue increased by 3.8% year-over-year but fell short of projections.
• The company recently declared a quarterly dividend of $0.60 per share, marking an increase from the previous dividend of $0.50, demonstrating a commitment to returning value to shareholders.

JPMorgan Chase & Co. lowered its position in Chemed Corporation (NYSE:CHE - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,115 shares of the company's stock after selling 20,671 shares during the quarter. JPMorgan Chase & Co. owned about 1.68% of Chemed worth $151,439,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC lifted its position in Chemed by 13.0% in the fourth quarter. Cerity Partners LLC now owns 959 shares of the company's stock valued at $522,000 after buying an additional 110 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Chemed by 13.1% during the fourth quarter. Advisory Services Network LLC now owns 482 shares of the company's stock worth $255,000 after purchasing an additional 56 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Chemed by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 6,526 shares of the company's stock worth $3,457,000 after purchasing an additional 40 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Chemed by 53.6% during the fourth quarter. Sterling Capital Management LLC now owns 822 shares of the company's stock worth $435,000 after purchasing an additional 287 shares in the last quarter. Finally, Synovus Financial Corp acquired a new stake in shares of Chemed during the fourth quarter worth about $654,000. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Stock Up 0.5%

Chemed stock traded up $2.04 during mid-day trading on Monday, hitting $447.15. The company had a trading volume of 69,864 shares, compared to its average volume of 137,600. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.45 and a beta of 0.46. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The business has a fifty day moving average of $482.43 and a 200 day moving average of $544.31.

Chemed (NYSE:CHE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing the consensus estimate of $6.02 by ($1.75). The company had revenue of $618.80 million during 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 business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.47 earnings per share. Equities analysts anticipate that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Chemed's previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 11th. Chemed's payout ratio is 12.34%.

Insider Buying and Selling

In other news, EVP Nicholas Michael Westfall sold 10,012 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $421.91, for a total transaction of $4,224,162.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Walsh III bought 200 shares of the stock in a transaction dated Monday, August 4th. The shares were acquired at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the transaction, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHE. Royal Bank Of Canada reduced their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of 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 reduced their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Oppenheimer reduced their target price 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. Finally, Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $579.75.

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.