Wellington Management Group LLP lessened its stake in shares of Chemed Co. (NYSE:CHE) by 64.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 742 shares of the company’s stock after selling 1,358 shares during the quarter. Wellington Management Group LLP’s holdings in Chemed were worth $321,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Chemed by 0.6% during the 1st quarter. Legal & General Group Plc now owns 41,273 shares of the company’s stock worth $17,880,000 after purchasing an additional 252 shares in the last quarter. Aviva PLC boosted its position in shares of Chemed by 95.4% during the 1st quarter. Aviva PLC now owns 8,665 shares of the company’s stock worth $3,754,000 after purchasing an additional 4,230 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Chemed by 323.8% during the 1st quarter. Deutsche Bank AG now owns 52,470 shares of the company’s stock worth $22,730,000 after purchasing an additional 40,090 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Chemed by 5.0% during the 1st quarter. Alliancebernstein L.P. now owns 34,402 shares of the company’s stock worth $14,903,000 after purchasing an additional 1,650 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Chemed by 22.2% during the 1st quarter. MML Investors Services LLC now owns 1,077 shares of the company’s stock worth $467,000 after purchasing an additional 196 shares in the last quarter. 88.94% of the stock is currently owned by institutional investors.
In other Chemed news, VP Naomi C. Dallob sold 2,200 shares of Chemed stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $430.00, for a total transaction of $946,000.00. Following the transaction, the vice president now owns 2,347 shares of the company’s stock, valued at approximately $1,009,210. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin J. Mcnamara sold 5,000 shares of Chemed stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $483.98, for a total transaction of $2,419,900.00. Following the transaction, the chief executive officer now directly owns 138,727 shares in the company, valued at approximately $67,141,093.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,020 shares of company stock worth $7,212,353. Insiders own 3.96% of the company’s stock.
Shares of NYSE CHE opened at $443.46 on Wednesday. Chemed Co. has a fifty-two week low of $330.01 and a fifty-two week high of $513.75. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 2.78 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.78 and a current ratio of 0.81. The firm’s 50-day simple moving average is $456.20 and its 200 day simple moving average is $447.03.
Chemed (NYSE:CHE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.65 by $0.03. Chemed had a net margin of 11.60% and a return on equity of 35.99%. The business had revenue of $515.80 million for the quarter, compared to analysts’ expectations of $523.04 million. During the same quarter last year, the firm earned $2.92 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Chemed Co. will post 16.31 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.28 annualized dividend and a dividend yield of 0.29%. Chemed’s dividend payout ratio is currently 9.18%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $489.00 price objective on the stock in a research report on Tuesday, May 19th. ValuEngine raised shares of Chemed from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank of Canada raised shares of Chemed from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $448.00 to $535.00 in a research report on Tuesday, March 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $509.80.
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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