TD Asset Management Inc Has $162.98 Million Stake in Chemed Corporation (NYSE:CHE)

Key Points

• TD Asset Management Inc reduced its stake in Chemed Corporation by 2.5% in Q1, now owning approximately 1.81% of the company, valued at $162.98 million.
• Chemed's stock price opened at $469.08, with a 1-year high of $623.60 and an earnings per share (EPS) of $5.63, which exceeded analysts' expectations.
• The company declared a quarterly dividend of $0.50 per share, translating to an annual yield of 0.43%, reflecting a payout ratio of 9.74%.

TD Asset Management Inc lowered its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,871 shares of the company's stock after selling 6,750 shares during the quarter. TD Asset Management Inc owned approximately 1.81% of Chemed worth $162,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC lifted its stake in Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the last quarter. Impact Capital Partners LLC lifted its stake in Chemed by 2.7% in the first quarter. Impact Capital Partners LLC now owns 763 shares of the company's stock valued at $469,000 after buying an additional 20 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Chemed by 13.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 185 shares of the company's stock valued at $98,000 after purchasing an additional 22 shares in the last quarter. KFG Wealth Management LLC raised its stake in shares of 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. raised its stake in shares of Chemed by 16.1% during the first quarter. First Horizon Advisors Inc. now owns 173 shares of the company's stock valued at $107,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Trading Down 8.9%

NYSE:CHE traded down $41.43 during mid-day trading on Wednesday, reaching $423.27. 194,663 shares of the stock were exchanged, compared to its average volume of 131,126. The business has a fifty day moving average price of $517.94 and a 200 day moving average price of $555.29. The firm has a market capitalization of $6.19 billion, a PE ratio of 20.59, a PEG ratio of 2.26 and a beta of 0.50. Chemed Corporation has a 1-year low of $410.00 and a 1-year high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The firm had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a return on equity of 27.58% and a net margin of 12.40%. Chemed's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.47 earnings per share. On average, sell-side analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.

Chemed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 29th were paid a $0.50 dividend. The ex-dividend date was Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. Chemed's dividend payout ratio is currently 9.74%.

Insider Transactions at Chemed

In related news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total value of $866,985.00. Following the transaction, the executive vice president owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 1,500 shares of Chemed stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $576.45, for a total value of $864,675.00. Following the completion of the transaction, the chief executive officer directly owned 101,197 shares in the company, valued at $58,335,010.65. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $2,598,450 in the last three months. 3.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CHE has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada restated an "outperform" rating and set a $640.00 price objective (down from $674.00) on shares of Chemed in a research note on Monday, June 30th. Bank of America cut their price objective on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Finally, Jefferies Financial Group initiated coverage on shares of Chemed in a research note on Friday, July 25th. They set a "hold" rating and a $500.00 price objective on the stock.

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.