Chemed Corporation $CHE Stock: Kestra Investment Management LLC Lowers Holdings

Kestra Investment Management LLC decreased its position in Chemed Corporation (NYSE:CHE) by 43.0% during the third quarter, HoldingsChannel reports. The firm owned 1,827 shares of the company’s stock after selling 1,379 shares during the quarter. Kestra Investment Management LLC’s holdings in Chemed were worth $923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CHE. BlackRock Inc. acquired a new stake in shares of Chemed in the second quarter worth $691,290,000. First Trust Advisors LP boosted its holdings in shares of Chemed by 24.7% during the 1st quarter. First Trust Advisors LP now owns 236,392 shares of the company’s stock worth $89,295,000 after buying an additional 46,791 shares during the period. Copeland Capital Management LLC grew its stake in Chemed by 7.6% in the 1st quarter. Copeland Capital Management LLC now owns 147,957 shares of the company’s stock valued at $55,889,000 after buying an additional 10,406 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Chemed by 7.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 107,215 shares of the company’s stock valued at $40,481,000 after buying an additional 7,807 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Chemed in the 2nd quarter worth $48,255,000. Institutional investors own 95.85% of the company’s stock.

Insider Activity

In other Chemed news, CEO Kevin McNamara sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $537.90, for a total value of $1,075,800.00. Following the completion of the transaction, the chief executive officer owned 82,220 shares of the company’s stock, valued at $44,226,138. This represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Spencer Lee sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $541.04, for a total value of $541,040.00. Following the completion of the transaction, the executive vice president directly owned 13,912 shares of the company’s stock, valued at approximately $7,526,948.48. This trade represents a 6.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,920 shares of company stock worth $5,223,056 over the last 90 days. Corporate insiders own 3.33% of the company’s stock.

Chemed Stock Performance

NYSE CHE opened at $544.82 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.11 and a quick ratio of 1.08. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.04 and a beta of 0.50. The company’s fifty day moving average is $515.29 and its two-hundred day moving average is $466.00. Chemed Corporation has a 52-week low of $365.20 and a 52-week high of $562.24.

Chemed (NYSE:CHE) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $6.75 EPS for the quarter, beating analysts’ consensus estimates of $6.44 by $0.31. The business had revenue of $690.94 million during the quarter, compared to analyst estimates of $685.04 million. Chemed had a net margin of 10.61% and a return on equity of 35.18%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.27 earnings per share. Equities research analysts forecast that Chemed Corporation will post 24.05 EPS for the current year.

Chemed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 16th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, November 16th. Chemed’s payout ratio is currently 13.40%.

Analysts Set New Price Targets

A number of research firms have weighed in on CHE. Oppenheimer boosted their target price on shares of Chemed from $590.00 to $625.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. UBS Group raised their price target on Chemed from $650.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Wall Street Zen raised Chemed from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Royal Bank Of Canada lifted their price objective on Chemed from $548.00 to $585.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings raised Chemed from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $603.00.

Chemed Company Profile

Chemed Corporation is a U.S.-based company operating through two principal businesses: VITAS Healthcare, which provides hospice and palliative care, and Roto-Rooter, which offers plumbing, drain-cleaning and water-restoration services. VITAS serves patients with serious illnesses through home-based care and services in hospice facilities and other care settings. Roto-Rooter serves residential and commercial customers with plumbing and drain services, as well as cleanup and restoration following water damage.