Vanguard Group Inc. Lowers Stock Position in Chemed Corporation (NYSE:CHE)

Vanguard Group Inc. reduced its stake in shares of Chemed Corporation (NYSE:CHE) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,640,567 shares of the company’s stock after selling 28,554 shares during the period. Vanguard Group Inc. owned 0.11% of Chemed worth $1,009,474,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new position in Chemed in the 1st quarter worth approximately $29,000. HM Payson & Co. bought a new stake in Chemed in the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC increased its stake in Chemed by 54.5% in the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 18 shares during the last quarter. Versant Capital Management Inc increased its stake in Chemed by 600.0% in the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company’s stock worth $60,000 after acquiring an additional 84 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Chemed by 23.0% during the 1st quarter. Farther Finance Advisors LLC now owns 150 shares of the company’s stock valued at $93,000 after purchasing an additional 28 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CHE shares. Royal Bank Of Canada cut their target price on Chemed from $640.00 to $589.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Jefferies Financial Group began coverage on Chemed in a research report on Friday, July 25th. They issued a “hold” rating and a $500.00 price objective on the stock. Oppenheimer cut their price objective on Chemed from $650.00 to $580.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Bank of America lowered their target price on Chemed from $708.00 to $650.00 and set a “buy” rating for the company in a report on Monday, June 30th. Finally, Wall Street Zen cut Chemed from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $579.75.

Chemed Price Performance

Shares of NYSE:CHE opened at $432.47 on Tuesday. The business’s 50-day moving average is $491.79 and its 200 day moving average is $547.62. Chemed Corporation has a 1 year low of $408.42 and a 1 year high of $623.60. The firm has a market capitalization of $6.30 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.40 and a beta of 0.46.

Chemed (NYSE:CHE) last announced its earnings results 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 business had revenue of $618.80 million for 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $5.47 earnings per share. On average, analysts expect that Chemed Corporation will post 21.43 EPS for the current year.

Chemed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.6%. This is a positive change from Chemed’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, August 11th. Chemed’s dividend payout ratio is 10.28%.

Insider Buying and Selling

In related news, EVP Spencer S. Lee sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the sale, the executive vice president directly owned 14,627 shares of the company’s stock, valued at $8,454,259.73. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Michael Westfall sold 10,012 shares of the stock in a transaction that occurred 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 owned by corporate insiders.

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.