Riverbridge Partners LLC Has $30.19 Million Stock Position in Chemed Corporation $CHE

Key Points

• Riverbridge Partners LLC reduced its stake in Chemed Corporation by 13.3%, holding 62,004 shares valued at approximately $30.19 million as of the latest quarter.
• Chemed recently increased its quarterly dividend by 20%, now at $0.60 per share, with a yield of 0.5% and a payout ratio of 12.34%.
• Despite a revenue increase of 3.8% year-over-year, Chemed's recent earnings report revealed an EPS miss of $4.27 compared to the estimate of $6.02.

Riverbridge Partners LLC trimmed its position in Chemed Corporation (NYSE:CHE - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,004 shares of the company's stock after selling 9,515 shares during the quarter. Riverbridge Partners LLC owned approximately 0.42% of Chemed worth $30,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHE. GAMMA Investing LLC boosted its holdings in shares of Chemed by 131,200.8% in the first quarter. GAMMA Investing LLC now owns 166,752 shares of the company's stock worth $102,606,000 after buying an additional 166,625 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Chemed by 249.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 130,037 shares of the company's stock worth $80,015,000 after buying an additional 92,813 shares during the period. Woodline Partners LP boosted its holdings in shares of Chemed by 2,681.0% in the first quarter. Woodline Partners LP now owns 58,178 shares of the company's stock worth $35,798,000 after buying an additional 56,086 shares during the period. Nuveen LLC acquired a new position in shares of Chemed in the first quarter worth about $30,527,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Chemed in the first quarter worth about $26,059,000. 95.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chemed

In related news, Director George J. Walsh III purchased 200 shares of the stock in a transaction on Monday, August 4th. The shares were bought 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 trade represents a 6.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were 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. Corporate insiders own 3.29% of the company's stock.

Chemed Stock Performance

Shares of CHE opened at $456.04 on Thursday. The firm has a market cap of $6.64 billion, a PE ratio of 23.45, a PEG ratio of 2.64 and a beta of 0.46. The firm's 50 day moving average price is $450.22 and its 200 day moving average price is $523.63. Chemed Corporation has a twelve month low of $408.42 and a twelve month high of $623.60.

Chemed (NYSE:CHE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $618.80 million for the quarter, compared to the consensus estimate of $650.60 million. Chemed had a net margin of 11.56% and a return on equity of 25.83%. Chemed's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $5.47 EPS. Chemed has set its FY 2025 guidance at 22.000-22.300 EPS. On average, sell-side analysts anticipate that Chemed Corporation will post 21.43 earnings per share for the current fiscal year.

Chemed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.5%. This is a boost from Chemed's previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 11th. Chemed's dividend payout ratio is 12.34%.

Wall Street Analyst Weigh In

CHE has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of Chemed from $610.00 to $595.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Oppenheimer reduced their price target on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company 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 report on Saturday, July 5th. Finally, Jefferies Financial Group raised shares of Chemed from a "hold" rating to a "buy" rating and increased their price target for the stock from $490.00 to $550.00 in a research report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $578.50.

Chemed 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.

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