Gabelli Funds LLC Has $15.88 Million Stock Holdings in Chemed Corporation $CHE

Key Points

• Gabelli Funds LLC reduced its stake in Chemed Corporation by 4.7%, owning $15.88 million worth of shares as of the latest SEC filing.
• Chemed announced a quarterly dividend increase to $0.60 per share, up from the previous $0.50, reflecting a dividend yield of 0.5%.
• Chemed Corporation reported a missed earnings estimate of $4.27 EPS for the last quarter, falling short of the projected $6.02 EPS by $1.75.

Gabelli Funds LLC lowered its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,800 shares of the company's stock after selling 1,283 shares during the period. Gabelli Funds LLC owned about 0.18% of Chemed worth $15,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CHE. Alpine Bank Wealth Management bought a new position in Chemed in the first quarter valued at $29,000. HM Payson & Co. bought a new position in Chemed in the first quarter valued at $30,000. SVB Wealth LLC bought a new position in Chemed in the first quarter valued at $30,000. Whipplewood Advisors LLC increased its stake in shares of Chemed by 54.5% during the 1st 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. Finally, Versant Capital Management Inc increased its stake in shares of Chemed by 600.0% during the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company's stock worth $60,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 95.85% of the company's stock.

Insider Buying and Selling

In other news, Director George J. Walsh III purchased 200 shares of the business's stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $417.10 per share, with a total value of $83,420.00. Following the acquisition, the director owned 3,523 shares in the company, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the company's stock in a transaction that occurred 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. Corporate insiders own 3.29% of the company's stock.

Chemed Trading Up 1.5%

NYSE CHE traded up $6.72 during trading on Monday, reaching $458.62. The company's stock had a trading volume of 154,376 shares, compared to its average volume of 166,099. The firm has a market capitalization 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 Corporation has a 12 month low of $408.42 and a 12 month high of $623.60. The firm has a 50 day moving average price of $463.24 and a 200 day moving average price of $537.18.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $618.80 million during the quarter, compared to the consensus estimate of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, equities analysts forecast that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CHE shares. Bank of America lowered 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. Oppenheimer decreased their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. 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. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Jefferies Financial Group started coverage on shares of Chemed in a research note on Friday, July 25th. They issued a "hold" rating and a $500.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $579.75.

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.