Kayne Anderson Rudnick Investment Management LLC Buys 15,041 Shares of Chemed Corporation $CHE

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Chemed Corporation to approximately 4.08%, amounting to $367.45 million in holdings after acquiring additional shares in the 1st quarter.
• Chemed's recent quarterly earnings report showed an EPS of $4.27, falling short of the consensus estimate of $6.02, amid a 3.8% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.60 per share, reflecting an increase from its previous dividend of $0.50, with a scheduled payment on August 29th.

Kayne Anderson Rudnick Investment Management LLC boosted its stake in Chemed Corporation (NYSE:CHE - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 597,175 shares of the company's stock after acquiring an additional 15,041 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.08% of Chemed worth $367,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Chemed during the fourth quarter worth about $618,000. Dimensional Fund Advisors LP raised its stake in shares of Chemed by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 199,254 shares of the company's stock worth $105,564,000 after purchasing an additional 18,584 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Chemed by 25.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 8,668 shares of the company's stock valued at $4,592,000 after buying an additional 1,759 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Chemed during the fourth quarter worth $2,575,000. Finally, Second Half Financial Partners LLC bought a new stake in Chemed during the fourth quarter worth $478,000. Institutional investors and hedge funds own 95.85% of the company's stock.

Chemed Stock Down 0.9%

CHE traded down $4.11 during trading hours on Thursday, hitting $451.22. The stock had a trading volume of 174,871 shares, compared to its average volume of 139,078. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The company's fifty day simple moving average is $466.90 and its 200 day simple moving average is $538.78. The stock has a market cap of $6.57 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.46 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly 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). Chemed had a net margin of 11.56% and a return on equity of 25.83%. The business had revenue of $618.80 million during the quarter, compared to the consensus estimate of $650.60 million. During the same period last year, the firm earned $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. As a group, equities analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be issued a $0.60 dividend. This is an increase from Chemed's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Chemed's dividend payout ratio (DPR) is presently 12.34%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHE. Royal Bank Of Canada decreased 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. Oppenheimer dropped their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on Chemed in a research report on Friday, July 25th. They set a "hold" rating and a $500.00 price objective for the company. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Bank of America cut their target price on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Chemed has a consensus rating of "Moderate Buy" and a consensus price target of $579.75.

Insider Buying and Selling

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Walsh III purchased 200 shares of the company's stock in a transaction dated Monday, August 4th. The shares were acquired at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the purchase, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. The trade was a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.29% of the stock is 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.