M&T Bank Corp raised its holdings in shares of Chemed Co. (NYSE:CHE) by 15.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,174 shares of the company’s stock after buying an additional 156 shares during the quarter. M&T Bank Corp’s holdings in Chemed were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Chemed by 27.0% in the 1st quarter. FMR LLC now owns 311,951 shares of the company’s stock worth $99,847,000 after purchasing an additional 66,276 shares in the last quarter. Investec Asset Management LTD boosted its holdings in shares of Chemed by 7.3% in the 2nd quarter. Investec Asset Management LTD now owns 269,948 shares of the company’s stock worth $97,408,000 after purchasing an additional 18,449 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Chemed by 27.9% in the 2nd quarter. TimesSquare Capital Management LLC now owns 217,000 shares of the company’s stock worth $78,302,000 after purchasing an additional 47,300 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Chemed by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 179,904 shares of the company’s stock valued at $50,963,000 after acquiring an additional 10,060 shares during the period. Finally, AJO LP boosted its holdings in Chemed by 141.7% during the 1st quarter. AJO LP now owns 145,216 shares of the company’s stock valued at $46,479,000 after acquiring an additional 85,132 shares during the period. Institutional investors and hedge funds own 87.12% of the company’s stock.
In other news, Director Walter L. Krebs sold 2,910 shares of Chemed stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $430.41, for a total value of $1,252,493.10. Following the sale, the director now directly owns 9,318 shares of the company’s stock, valued at $4,010,560.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald E. Saunders sold 400 shares of Chemed 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 completion of the transaction, the director now owns 7,408 shares of the company’s stock, valued at approximately $3,206,700.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,812 shares of company stock worth $20,005,507. Insiders own 3.96% of the company’s stock.
CHE has been the subject of a number of recent analyst reports. ValuEngine raised Chemed from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Oppenheimer upped their price target on Chemed from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price target on Chemed to $405.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Bank of America increased their target price on Chemed from $470.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $411.25.
CHE stock opened at $413.18 on Friday. The business has a 50 day moving average of $427.56 and a 200 day moving average of $365.64. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 0.25. Chemed Co. has a twelve month low of $260.03 and a twelve month high of $441.79. The firm has a market cap of $6.58 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.89 and a beta of 1.13.
Chemed (NYSE:CHE) last issued its earnings results on Thursday, July 25th. The company reported $3.36 EPS for the quarter, beating the 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 business had revenue of $473.60 million for the quarter, compared to the consensus estimate of $471.72 million. During the same period last year, the business posted $2.81 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that Chemed Co. will post 13.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is a boost from Chemed’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 0.31%. Chemed’s dividend payout ratio (DPR) is currently 10.73%.
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 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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