TD Asset Management Inc Cuts Stake in Chemed Corporation $CHE

Key Points

• TD Asset Management Inc has reduced its stake in Chemed Corporation by 7.4%, leaving it with 245,285 shares valued at approximately $119 million.
• Chemed reported a missed earnings expectation with an EPS of $4.27 compared to a consensus estimate of $6.02, leading to a revenue of $618.8 million for the quarter.
• The company has increased its quarterly dividend from $0.50 to $0.60, yielding an annualized dividend of $2.40.

TD Asset Management Inc lessened its stake in Chemed Corporation (NYSE:CHE - Free Report) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,285 shares of the company's stock after selling 19,586 shares during the quarter. TD Asset Management Inc owned 1.68% of Chemed worth $119,437,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CHE. Alpine Bank Wealth Management purchased a new position in shares of Chemed in the 1st quarter valued at about $29,000. HM Payson & Co. purchased a new position in shares of Chemed in the 1st quarter valued at about $30,000. SVB Wealth LLC purchased a new position in shares of Chemed in the 1st quarter valued at about $30,000. WPG Advisers LLC purchased a new position in shares of Chemed in the 1st quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Chemed by 330.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 99 shares of the company's stock valued at $61,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company's stock.

Chemed Stock Performance

Shares of CHE opened at $437.00 on Wednesday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.50 and a beta of 0.43. The company's 50 day simple moving average is $448.72 and its 200 day simple moving average is $507.42. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60.

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

Chemed Increases Dividend

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

Insider Activity at Chemed

In related news, Director George J. Walsh III bought 200 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost 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. The trade was a 6.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was 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. Insiders sold a total of 13,162 shares of company stock valued at $5,677,511 over the last three months. Insiders own 3.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Chemed from $640.00 to $589.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Oppenheimer dropped their target price on shares of Chemed from $650.00 to $580.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Jefferies Financial Group upgraded shares of Chemed from a "hold" rating to a "buy" rating and raised their target price for the company from $490.00 to $550.00 in a report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Chemed from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Bank of America dropped 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. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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