Fuller & Thaler Asset Management Inc. Purchases 92,813 Shares of Chemed Corporation $CHE

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Chemed Corporation by 249.3% in Q1, acquiring an additional 92,813 shares to total 130,037 shares.
• Chemed reported a quarterly earnings miss, with earnings per share of $4.27 compared to an expected $6.02, along with revenue of $618.80 million.
• The company announced an increase in its quarterly dividend to $0.60 per share, effective for stockholders of record as of August 11, 2023, signaling a positive shift in its shareholder returns.

Fuller & Thaler Asset Management Inc. grew its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 249.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,037 shares of the company's stock after buying an additional 92,813 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.89% of Chemed worth $80,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Chemed by 131,200.8% in the 1st quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock valued at $102,606,000 after acquiring an additional 166,625 shares during the period. Freestone Grove Partners LP bought a new position in shares of Chemed in the fourth quarter valued at about $61,664,000. Point72 Asset Management L.P. acquired a new stake in shares of Chemed during the 4th quarter worth about $54,587,000. Citadel Advisors LLC boosted its holdings in shares of Chemed by 197.4% during the 4th quarter. Citadel Advisors LLC now owns 77,143 shares of the company's stock worth $40,870,000 after buying an additional 51,206 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Chemed during the 1st quarter worth about $30,527,000. 95.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Chemed

In related news, EVP Nicholas Michael Westfall sold 10,012 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The transaction 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 company's stock in a transaction dated 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 acquisition, the director directly 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. 3.29% of the stock is owned by insiders.

Chemed Stock Up 1.3%

Shares of CHE traded up $5.9150 during trading hours on Friday, hitting $460.0050. 164,599 shares of the company were exchanged, compared to its average volume of 190,274. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 2.50 and a beta of 0.46. The firm's fifty day moving average is $472.64 and its 200 day moving average is $540.90.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). Chemed had a net margin of 11.56% and a return on equity of 25.83%. The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $650.60 million. During the same period last year, the firm earned $5.47 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. 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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Chemed's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, August 11th. Chemed's payout ratio is 12.34%.

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.