Deutsche Bank AG Acquires 9,341 Shares of Chemed Corporation (NYSE:CHE)

Key Points

• Deutsche Bank AG significantly increased its holdings in Chemed Corporation by 424.0%, acquiring a total of 11,544 shares worth $7.1 million.
• Several analysts have downgraded Chemed's stock ratings, with the average consensus rating now labeled as a "Moderate Buy" and a target price of $579.75.
• Chemed recently announced a dividend increase from $0.50 to $0.60 per share, with a yield of 0.5%, which is part of its strategy for returning capital to shareholders.

Deutsche Bank AG grew its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 424.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,544 shares of the company's stock after buying an additional 9,341 shares during the period. Deutsche Bank AG owned 0.08% of Chemed worth $7,103,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Royal Bank Of Canada lowered their target price on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Bank of America dropped their price target 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 assumed coverage on Chemed in a report on Friday, July 25th. They issued a "hold" rating and a $500.00 price objective for the company. Finally, Oppenheimer lowered their price objective on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $579.75.

Chemed Price Performance

CHE opened at $445.00 on Friday. The firm has a market cap of $6.48 billion, a PE ratio of 22.88, a P/E/G ratio of 2.45 and a beta of 0.46. The stock has a 50-day moving average price of $482.43 and a 200-day moving average price of $544.53. 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 issued 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 firm had revenue of $618.80 million during the quarter, compared to analysts' expectations of $650.60 million. Chemed had a return on equity of 25.83% and a net margin of 11.56%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $5.47 earnings per share. As a group, sell-side analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 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 dividend payout ratio (DPR) is currently 12.34%.

Insiders Place Their Bets

In other Chemed news, Director George J. Walsh III purchased 200 shares of the firm's stock in a transaction on Monday, August 4th. The shares were acquired at an average cost 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed stock in a transaction on Monday, August 4th. The stock was sold at an average price of $421.91, for a total transaction of $4,224,162.92. The disclosure for this sale can be found here. 3.29% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding CHE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemed Corporation (NYSE:CHE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.