Neuberger Berman Group LLC Increases Stock Holdings in Chemed Corporation (NYSE:CHE)

Key Points

• Neuberger Berman Group LLC increased its ownership in Chemed Corporation by 3.9%, acquiring an additional 19,650 shares, bringing its total to 521,212 shares, valued at approximately $320.7 million.
• Chemed recently declared a quarterly dividend increase from $0.50 to $0.60 per share, reflecting a payout ratio of 12.34% and an annual yield of 0.5%.
• Analysts have adjusted their price targets for Chemed, with the average target now at $579.75, reflecting mixed ratings with a consensus of "Moderate Buy".

Neuberger Berman Group LLC increased its holdings in Chemed Corporation (NYSE:CHE - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521,212 shares of the company's stock after buying an additional 19,650 shares during the period. Neuberger Berman Group LLC owned about 3.56% of Chemed worth $320,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its holdings in Chemed by 13.0% in the 4th quarter. Cerity Partners LLC now owns 959 shares of the company's stock valued at $522,000 after purchasing an additional 110 shares during the last quarter. Advisory Services Network LLC lifted its position in Chemed by 13.1% during the 4th quarter. Advisory Services Network LLC now owns 482 shares of the company's stock worth $255,000 after acquiring an additional 56 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chemed in the fourth quarter valued at approximately $42,023,000. Bessemer Group Inc. grew its holdings in Chemed by 16.2% during the fourth quarter. Bessemer Group Inc. now owns 832 shares of the company's stock worth $440,000 after acquiring an additional 116 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Chemed by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 6,526 shares of the company's stock valued at $3,457,000 after acquiring an additional 40 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chemed

In other news, Director George J. Walsh III acquired 200 shares of the stock in a transaction on Monday, August 4th. The shares were purchased at an average price of $417.10 per share, for a total transaction of $83,420.00. Following the transaction, the director directly owned 3,523 shares of the company's stock, valued at approximately $1,469,443.30. This represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $421.91, for a total value of $4,224,162.92. The disclosure for this sale can be found here. 3.29% of the stock is currently owned by corporate insiders.

Chemed Price Performance

Shares of CHE traded up $1.13 on Friday, hitting $445.00. The company's stock had a trading volume of 177,141 shares, compared to its average volume of 192,563. The company has a 50 day moving average price of $482.43 and a 200 day moving average price of $544.53. The company 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 Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly 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). The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 EPS. On average, equities analysts forecast that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The company also recently announced 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 represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from Chemed's previous quarterly dividend of $0.50. Chemed's payout ratio is currently 12.34%.

Wall Street Analysts Forecast Growth

CHE has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price objective on Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Oppenheimer reduced their target price on 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 assumed coverage on Chemed in a research report on Friday, July 25th. They set a "hold" rating and a $500.00 price target on the stock. Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Bank of America dropped their price objective on Chemed from $708.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $579.75.

About Chemed

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.