Chemed Corporation $CHE Stock Holdings Lessened by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC reduced its stake in Chemed Corporation by 5.2%, now holding 14,331 shares valued at approximately $8.8 million.
• Chemed reported a missed earnings estimate for the last quarter, posting $4.27 EPS against a consensus estimate of $6.02, with a revenue of $618.8 million, lower than the expected $650.6 million.
• The company announced a quarterly dividend increase from $0.50 to $0.60, with the dividend yield at 0.5% and a payout ratio of 12.34%.

Evergreen Capital Management LLC trimmed its stake in shares of Chemed Corporation (NYSE:CHE - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,331 shares of the company's stock after selling 784 shares during the quarter. Evergreen Capital Management LLC owned about 0.10% of Chemed worth $8,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHE. Marshall Wace LLP acquired a new position in Chemed during the 4th quarter valued at approximately $618,000. Northern Trust Corp grew its position in shares of Chemed by 19.3% during the fourth quarter. Northern Trust Corp now owns 208,535 shares of the company's stock worth $110,482,000 after acquiring an additional 33,710 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Chemed by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 80,665 shares of the company's stock worth $42,736,000 after acquiring an additional 12,300 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Chemed by 16.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 520 shares of the company's stock worth $275,000 after acquiring an additional 73 shares during the last quarter. Finally, Voleon Capital Management LP bought a new position in shares of Chemed during the fourth quarter worth about $1,136,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Stock Performance

Shares of NYSE:CHE traded up $6.72 during trading hours on Monday, hitting $458.62. 154,376 shares of the company's stock traded hands, compared to its average volume of 166,099. Chemed Corporation has a 52 week low of $408.42 and a 52 week high of $623.60. The company's fifty day simple moving average is $463.24 and its two-hundred day simple moving average is $537.18. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $6.02 by ($1.75). Chemed had a net margin of 11.56% and a return on equity of 25.83%. The business had revenue of $618.80 million for the quarter, compared to the consensus estimate of $650.60 million. During the same quarter last year, the business posted $5.47 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, analysts anticipate that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were paid a dividend of $0.60 per share. This is a boost from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Chemed's payout ratio is currently 12.34%.

Insider Transactions at Chemed

In other news, Director George J. Walsh III acquired 200 shares of Chemed stock in a transaction on Monday, August 4th. The stock was bought at an average cost of $417.10 per share, with a total value of $83,420.00. Following the completion of the purchase, the director owned 3,523 shares of the company's stock, valued at $1,469,443.30. This represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the company's stock in a transaction dated Monday, August 4th. The shares were 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.

Analyst Ratings Changes

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

Chemed 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.