Parametric Portfolio Associates LLC cut its holdings in shares of Chemed Co. (NYSE:CHE) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,309 shares of the company’s stock after selling 1,818 shares during the period. Parametric Portfolio Associates LLC owned 0.40% of Chemed worth $22,844,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Chemed by 1.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the company’s stock worth $1,064,000 after buying an additional 30 shares in the last quarter. Hollencrest Capital Management raised its stake in Chemed by 5.9% in the first quarter. Hollencrest Capital Management now owns 768 shares of the company’s stock valued at $246,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC raised its stake in Chemed by 117.9% in the second quarter. Advisory Services Network LLC now owns 85 shares of the company’s stock valued at $30,000 after purchasing an additional 46 shares in the last quarter. Bbva USA Bancshares Inc. raised its stake in Chemed by 2.4% in the second quarter. Bbva USA Bancshares Inc. now owns 2,579 shares of the company’s stock valued at $931,000 after purchasing an additional 61 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Chemed by 2.8% in the second quarter. Advisor Group Inc. now owns 2,305 shares of the company’s stock valued at $833,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 87.12% of the company’s stock.
CHE has been the subject of a number of analyst reports. ValuEngine raised Chemed from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Oppenheimer boosted their price target on Chemed from $400.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America lifted their target price on Chemed from $470.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on Chemed to $405.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Chemed has a consensus rating of “Hold” and an average price target of $411.25.
Chemed (NYSE:CHE) last released its earnings results on Thursday, July 25th. The company reported $3.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.27. Chemed had a return on equity of 35.63% and a net margin of 10.94%. The firm had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $471.72 million. During the same quarter in the previous year, the business posted $2.81 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts predict that Chemed Co. will post 13.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, August 9th. This is a boost from Chemed’s previous quarterly dividend of $0.30. Chemed’s payout ratio is currently 10.73%.
In other news, Director Walter L. Krebs sold 2,910 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $430.41, for a total transaction of $1,252,493.10. Following the sale, the director now directly owns 9,318 shares in the company, valued at $4,010,560.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Donald E. Saunders sold 400 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $432.87, for a total value of $173,148.00. Following the sale, the director now owns 7,408 shares in the company, valued at $3,206,700.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,812 shares of company stock worth $20,005,507. Company insiders own 3.96% of the company’s stock.
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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.
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