Chemed Corporation $CHE Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC sold 53.7% of its shares in Chemed Corporation, reducing its stake to $44.22 million in the first quarter.
• Chemed reported a miss on earnings with $4.27 EPS against an expected $6.02, and a revenue of $618.80 million compared to the consensus of $650.60 million.
• The company has increased its quarterly dividend from $0.50 to $0.60 per share, with an annualized yield of 0.5% and a payout ratio of 12.34%.

Millennium Management LLC decreased its holdings in shares of Chemed Corporation (NYSE:CHE - Free Report) by 53.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,868 shares of the company's stock after selling 83,207 shares during the period. Millennium Management LLC owned 0.49% of Chemed worth $44,222,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in shares of Chemed in the first quarter worth approximately $29,000. HM Payson & Co. bought a new position in shares of Chemed in the first quarter worth $30,000. SVB Wealth LLC bought a new stake in Chemed during the first quarter valued at $30,000. Whipplewood Advisors LLC boosted its stake in Chemed by 54.5% during the first quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after buying an additional 18 shares during the period. Finally, WPG Advisers LLC purchased a new stake in Chemed during the first quarter valued at about $32,000. 95.85% of the stock is owned by institutional investors and hedge funds.

Chemed Stock Performance

CHE traded down $11.89 during trading on Friday, hitting $446.00. The stock had a trading volume of 160,245 shares, compared to its average volume of 167,051. The company has a market capitalization of $6.50 billion, a PE ratio of 22.93, a PEG ratio of 2.60 and a beta of 0.46. Chemed Corporation has a twelve month low of $408.42 and a twelve month high of $623.60. The stock has a 50 day simple moving average of $451.83 and a two-hundred day simple moving average of $530.54.

Chemed (NYSE:CHE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.27 EPS for the quarter, missing the consensus estimate of $6.02 by ($1.75). The company had revenue of $618.80 million for the quarter, compared to analyst estimates of $650.60 million. Chemed had a return on equity of 25.83% and a net margin of 11.56%.The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.47 earnings per share. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, equities research analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. Chemed's dividend payout ratio (DPR) is presently 12.34%.

Insider Buying and Selling at Chemed

In other Chemed news, Director Patrick P. Grace sold 150 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $463.39, for a total transaction of $69,508.50. Following the sale, the director directly owned 3,397 shares in the company, valued at $1,574,135.83. This represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Walsh III acquired 200 shares of Chemed stock in a transaction dated Monday, August 4th. The stock was purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the completion of the acquisition, the director directly owned 3,523 shares in the company, valued at approximately $1,469,443.30. This represents a 6.02% increase in their position. The disclosure for this purchase can be found here. 3.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHE. Bank of America decreased their price objective on Chemed from $610.00 to $595.00 and set a "buy" rating on the stock in a report on Wednesday. Oppenheimer dropped their price target on Chemed from $650.00 to $580.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating on the stock in a research report 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 upgraded Chemed from a "hold" rating to a "buy" rating and upped their price objective for the stock from $490.00 to $550.00 in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chemed currently 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.