Comerica Bank decreased its holdings in Chemed Co. (NYSE:CHE) by 25.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,598 shares of the company’s stock after selling 4,406 shares during the quarter. Comerica Bank’s holdings in Chemed were worth $4,106,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Chemed by 3.1% in the first quarter. BlackRock Inc. now owns 2,143,378 shares of the company’s stock valued at $584,841,000 after purchasing an additional 64,104 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Chemed by 175.3% in the first quarter. JPMorgan Chase & Co. now owns 205,300 shares of the company’s stock valued at $56,018,000 after purchasing an additional 130,719 shares during the period. Summit Trail Advisors LLC boosted its stake in shares of Chemed by 28,358.4% in the first quarter. Summit Trail Advisors LLC now owns 156,521 shares of the company’s stock valued at $157,000 after purchasing an additional 155,971 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Chemed by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 156,002 shares of the company’s stock valued at $42,567,000 after purchasing an additional 3,612 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in shares of Chemed by 5.6% in the first quarter. Copeland Capital Management LLC now owns 133,423 shares of the company’s stock valued at $36,406,000 after purchasing an additional 7,037 shares during the period. 95.06% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on CHE shares. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $339.00 price objective for the company in a research note on Tuesday, April 24th. ValuEngine upgraded shares of Chemed from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 4th. Finally, Royal Bank of Canada lifted their price target on shares of Chemed to $321.00 and gave the stock a “market perform” rating in a research note on Monday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $315.33.
Chemed (NYSE:CHE) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.04. Chemed had a net margin of 11.00% and a return on equity of 33.57%. The company had revenue of $441.80 million during the quarter, compared to the consensus estimate of $434.28 million. During the same quarter in the previous year, the firm earned $2.15 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. equities research analysts anticipate that Chemed Co. will post 11.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Monday, August 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 10th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. This is an increase from Chemed’s previous quarterly dividend of $0.28. Chemed’s payout ratio is currently 22.39%.
In related news, Director Patrick P. Grace sold 250 shares of Chemed stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $323.76, for a total value of $80,940.00. Following the completion of the transaction, the director now owns 4,520 shares in the company, valued at $1,463,395.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Naomi C. Dallob sold 200 shares of Chemed stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $327.13, for a total transaction of $65,426.00. Following the completion of the transaction, the vice president now owns 6,289 shares of the company’s stock, valued at approximately $2,057,320.57. The disclosure for this sale can be found here. Insiders sold 19,450 shares of company stock valued at $6,269,496 in the last quarter. 4.82% of the stock is owned by insiders.
Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.
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