US Bancorp DE decreased its holdings in shares of Chemed Co. (NYSE:CHE) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,066 shares of the company’s stock after selling 814 shares during the quarter. US Bancorp DE owned approximately 0.09% of Chemed worth $5,437,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its position in shares of Chemed by 1.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the company’s stock valued at $1,064,000 after purchasing an additional 30 shares during the period. Hollencrest Capital Management raised its position in shares of 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 during the period. Advisory Services Network LLC raised its position in shares of 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 during the period. Bbva USA Bancshares Inc. raised its position in shares of 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 during the period. Finally, Advisor Group Inc. raised its position in shares of 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 during the period. Institutional investors and hedge funds own 87.12% of the company’s stock.
Several equities analysts recently commented on CHE shares. Oppenheimer upped their price target on shares of 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 upped their price target on shares of Chemed from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on shares of Chemed to $405.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, ValuEngine upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $411.25.
Chemed (NYSE:CHE) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.27. Chemed had a net margin of 10.94% and a return on equity of 35.63%. The business had revenue of $473.60 million for the quarter, compared to the consensus estimate of $471.72 million. During the same period in the prior year, the company posted $2.81 earnings per share. Chemed’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts forecast that Chemed Co. will post 13.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is an increase from Chemed’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 0.30%. Chemed’s dividend payout ratio is 10.73%.
In other Chemed news, Director Donald E. Saunders sold 400 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $432.87, for a total transaction of $173,148.00. Following the sale, the director now directly owns 7,408 shares in the company, valued at $3,206,700.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter L. Krebs sold 2,910 shares of the 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 owns 9,318 shares in the company, valued at $4,010,560.38. The disclosure for this sale can be found here. Insiders have sold 46,812 shares of company stock worth $20,005,507 over the last quarter. Corporate 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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