Golden State Wealth Management LLC increased its position in shares of Chemed Co. (NYSE:CHE – Get Rating) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,311 shares of the company’s stock after acquiring an additional 45 shares during the quarter. Golden State Wealth Management LLC’s holdings in Chemed were worth $664,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in Chemed during the 4th quarter worth approximately $32,000. UMB Bank N A MO lifted its stake in Chemed by 347.1% in the first quarter. UMB Bank N A MO now owns 76 shares of the company’s stock valued at $39,000 after buying an additional 59 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Chemed in the first quarter valued at approximately $46,000. Signaturefd LLC lifted its stake in Chemed by 69.6% in the first quarter. Signaturefd LLC now owns 95 shares of the company’s stock valued at $48,000 after buying an additional 39 shares in the last quarter. Finally, Covestor Ltd bought a new position in Chemed in the fourth quarter valued at approximately $72,000. Institutional investors own 90.42% of the company’s stock.
Insider Activity at Chemed
In related news, CEO Kevin J. Mcnamara sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $481.93, for a total value of $1,445,790.00. Following the completion of the sale, the chief executive officer now directly owns 125,185 shares in the company, valued at approximately $60,330,407.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Chemed news, CEO Kevin J. Mcnamara sold 2,000 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $474.13, for a total value of $948,260.00. Following the transaction, the chief executive officer now directly owns 124,235 shares of the company’s stock, valued at approximately $58,903,540.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin J. Mcnamara sold 3,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $481.93, for a total transaction of $1,445,790.00. Following the completion of the transaction, the chief executive officer now directly owns 125,185 shares in the company, valued at $60,330,407.05. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Separately, Royal Bank of Canada lowered their price objective on shares of Chemed from $592.00 to $541.00 and set an “outperform” rating on the stock in a report on Monday, August 1st.
Chemed Price Performance
NYSE CHE opened at $476.38 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 0.16. Chemed Co. has a 12-month low of $403.00 and a 12-month high of $539.87. The company has a market capitalization of $7.10 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.26 and a beta of 0.51. The firm’s 50 day moving average is $486.00 and its 200-day moving average is $486.14.
Chemed (NYSE:CHE – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.06. Chemed had a net margin of 12.95% and a return on equity of 44.64%. The company had revenue of $531.29 million for the quarter, compared to the consensus estimate of $538.07 million. During the same period last year, the company earned $4.60 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Chemed Co. will post 18.74 earnings per share for the current fiscal year.
Chemed Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Monday, August 15th were paid a $0.38 dividend. This is an increase from Chemed’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, August 12th. Chemed’s dividend payout ratio (DPR) is 8.45%.
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 primarily in the United States. The company operates in two segments, VITAS and Roto-Rooter. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.
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