Fifth Third Bancorp Trims Stake in Chemed Corporation $CHE

Key Points

• Fifth Third Bancorp reduced its stake in Chemed Corporation by 20.7% during Q2, owning 3,284 shares worth approximately $1.6 million after selling 856 shares.
• Chemed recently reported a missed earnings per share of $4.27 for the quarter, falling short of analysts' expectations of $6.02, with total revenue of $618.80 million.
• Chemed Corporation has raised its quarterly dividend from $0.50 to $0.60 per share, reflecting a positive trend in shareholder returns.

Fifth Third Bancorp lessened its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 20.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,284 shares of the company's stock after selling 856 shares during the quarter. Fifth Third Bancorp's holdings in Chemed were worth $1,599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bessemer Group Inc. boosted its position in Chemed by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 950 shares of the company's stock worth $585,000 after purchasing an additional 118 shares during the period. DAVENPORT & Co LLC acquired a new stake in shares of Chemed in the first quarter valued at about $265,000. Jump Financial LLC acquired a new stake in shares of Chemed in the first quarter valued at about $2,777,000. Mather Group LLC. raised its holdings 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 buying an additional 56 shares during the period. Finally, Park Place Capital Corp lifted its position in Chemed by 71.2% during the 1st quarter. Park Place Capital Corp now owns 3,572 shares of the company's stock worth $2,198,000 after acquiring an additional 1,486 shares in the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chemed news, Director George J. Walsh III acquired 200 shares of the firm's stock in a transaction on Monday, August 4th. The stock was purchased at an average cost of $417.10 per share, for a total transaction of $83,420.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the business'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 disclosure for this sale can be found here. Company insiders own 3.29% of the company's stock.

Chemed Price Performance

NYSE CHE opened at $462.30 on Friday. The firm has a market capitalization of $6.74 billion, a PE ratio of 23.77, a P/E/G ratio of 2.69 and a beta of 0.46. The company's 50 day simple moving average is $450.29 and its 200 day simple moving average is $521.23. Chemed Corporation has a 12 month low of $408.42 and a 12 month 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 analysts' consensus estimates of $6.02 by ($1.75). Chemed had a return on equity of 25.83% and a net margin of 11.56%.The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $650.60 million. During the same quarter in the previous year, the firm earned $5.47 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. Sell-side analysts anticipate that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 11th. 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%. Chemed's payout ratio is presently 12.34%.

Wall Street Analysts Forecast Growth

CHE has been the subject of several recent research reports. Oppenheimer lowered their price objective 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. Wall Street Zen downgraded Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Bank of America cut their price target on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Jefferies Financial Group raised Chemed from a "hold" rating to a "buy" rating and increased their price target for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada dropped their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Chemed presently has an average rating of "Buy" and a consensus target price of $578.50.

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.

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