LPL Financial LLC Grows Stock Holdings in Chemed Corporation (NYSE:CHE)

Key Points

• LPL Financial LLC increased its stake in Chemed Corporation by 12.7%, acquiring an additional 1,185 shares during the first quarter, bringing its total ownership to 10,527 shares valued at $6,477,000.
• Chemed recently increased its quarterly dividend from $0.50 to $0.60 per share, marking a positive shift for its investors.
• Following a recent earnings report, Chemed's stock is facing mixed analyst ratings, with Wall Street Zen downgrading its rating from "buy" to "hold."

LPL Financial LLC grew its position in shares of Chemed Corporation (NYSE:CHE - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,527 shares of the company's stock after buying an additional 1,185 shares during the quarter. LPL Financial LLC owned 0.07% of Chemed worth $6,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Inspire Advisors LLC purchased a new stake in shares of Chemed during the first quarter valued at approximately $221,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Chemed by 4.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,550 shares of the company's stock valued at $2,184,000 after buying an additional 144 shares during the last quarter. First Heartland Consultants Inc. grew its holdings in shares of Chemed by 6.7% during the first quarter. First Heartland Consultants Inc. now owns 673 shares of the company's stock valued at $414,000 after buying an additional 42 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Chemed during the first quarter valued at approximately $220,000. Finally, Cetera Investment Advisers grew its holdings in shares of Chemed by 6.2% during the first quarter. Cetera Investment Advisers now owns 1,715 shares of the company's stock valued at $1,056,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Stock Performance

Shares of Chemed stock traded up $1.13 on Friday, hitting $445.00. 177,141 shares of the company's stock were exchanged, compared to its average volume of 192,563. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The company has a 50-day simple moving average of $482.43 and a 200-day simple moving average of $544.44. The stock has a market capitalization of $6.48 billion, a PE ratio of 22.88, a PEG ratio of 2.45 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last released its earnings results 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 company had revenue of $618.80 million for the quarter, compared to analysts' expectations of $650.60 million. During the same quarter last year, the firm posted $5.47 earnings per share. Chemed's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that Chemed Corporation will post 21.43 EPS for the current fiscal year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.40 annualized dividend and a yield of 0.5%. This is a positive change from Chemed's previous quarterly dividend of $0.50. Chemed's payout ratio is currently 12.34%.

Insider Activity at Chemed

In other Chemed news, EVP Nicholas Michael Westfall sold 10,012 shares of Chemed 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 filing with the SEC, which is accessible through this link. Also, Director George J. Walsh III purchased 200 shares of the company's stock in a transaction on Monday, August 4th. The stock was purchased at an average price of $417.10 per share, with a total value of $83,420.00. Following the completion of the transaction, the director owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. This trade represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CHE shares. Bank of America dropped their target price on shares of Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Wall Street Zen cut shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Oppenheimer dropped their target price on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Chemed in a report on Friday, July 25th. They issued a "hold" rating and a $500.00 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Chemed presently has an average 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.