943 Shares in Chemed Corporation (NYSE:CHE) Purchased by Pandora Wealth Inc.

Key Points

• Pandora Wealth Inc. has acquired a new position in Chemed Corporation, purchasing 943 shares valued at approximately $580,000 during the first quarter.
• Chemed recently announced a quarterly dividend increase from $0.50 to $0.60 per share, with the ex-dividend date set for August 11th.
• Despite a decline in earnings and revenue for the last quarter, Chemed's stock opened at $435.82, and it maintains a market cap of $6.35 billion.

Pandora Wealth Inc. acquired a new stake in Chemed Corporation (NYSE:CHE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 943 shares of the company's stock, valued at approximately $580,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC boosted its stake in shares of Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Renasant Bank boosted its stake in Chemed by 2.3% during the 1st quarter. Renasant Bank now owns 815 shares of the company's stock worth $501,000 after acquiring an additional 18 shares during the last quarter. Impact Capital Partners LLC boosted its stake in Chemed by 2.7% during the 1st quarter. Impact Capital Partners LLC now owns 763 shares of the company's stock worth $469,000 after acquiring an additional 20 shares during the last quarter. KFG Wealth Management LLC lifted its stake in Chemed by 4.6% in the first quarter. KFG Wealth Management LLC now owns 525 shares of the company's stock valued at $323,000 after buying an additional 23 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Chemed by 16.1% in the first quarter. First Horizon Advisors Inc. now owns 173 shares of the company's stock valued at $107,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America cut their price target 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. Royal Bank Of Canada cut 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. Jefferies Financial Group assumed 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. Oppenheimer cut 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. Finally, Wall Street Zen lowered shares of Chemed from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $579.75.

Insider Activity

In other news, EVP Spencer S. Lee sold 1,500 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.99, for a total value of $866,985.00. Following the completion of the sale, the executive vice president owned 14,627 shares of the company's stock, valued at approximately $8,454,259.73. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the business's stock in a transaction dated Monday, August 4th. The shares were 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. 3.29% of the stock is currently owned by company insiders.

Chemed Trading Up 2.1%

Shares of NYSE CHE traded up $9.14 during midday trading on Wednesday, reaching $452.28. The company's stock had a trading volume of 84,425 shares, compared to its average volume of 137,090. Chemed Corporation has a fifty-two week low of $408.42 and a fifty-two week high of $623.60. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.38 and a beta of 0.46. The stock has a 50 day simple moving average of $489.28 and a 200-day simple moving average of $546.89.

Chemed (NYSE:CHE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $4.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.02 by ($1.75). The firm 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%. Chemed'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. As a group, equities analysts anticipate that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

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

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.