Park Place Capital Corp Grows Stake in Chemed Co. (NYSE:CHE)

Park Place Capital Corp raised its stake in Chemed Co. (NYSE:CHE) by 716.3% during the first quarter, HoldingsChannel reports. The fund owned 400 shares of the company’s stock after buying an additional 351 shares during the period. Park Place Capital Corp’s holdings in Chemed were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital Insight Partners LLC grew its stake in shares of Chemed by 7.5% in the first quarter. Capital Insight Partners LLC now owns 9,972 shares of the company’s stock worth $6,401,000 after acquiring an additional 700 shares during the last quarter. Thrive Wealth Management LLC purchased a new stake in shares of Chemed in the first quarter worth $226,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Chemed by 8.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,164 shares of the company’s stock worth $747,000 after acquiring an additional 87 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Chemed by 154.5% in the first quarter. Janiczek Wealth Management LLC now owns 196 shares of the company’s stock worth $126,000 after acquiring an additional 119 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Chemed by 3.4% in the first quarter. Ballentine Partners LLC now owns 660 shares of the company’s stock worth $424,000 after acquiring an additional 22 shares during the last quarter. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Price Performance

Chemed stock opened at $539.54 on Tuesday. Chemed Co. has a one year low of $492.84 and a one year high of $654.62. The stock has a market capitalization of $8.17 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.43. The business’s fifty day moving average is $556.04 and its 200 day moving average is $588.78.

Chemed (NYSE:CHE) last released its quarterly earnings data on Wednesday, April 24th. The company reported $4.68 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.41). Chemed had a net margin of 12.36% and a return on equity of 30.52%. The business had revenue of $589.23 million for the quarter, compared to analysts’ expectations of $587.18 million. As a group, sell-side analysts expect that Chemed Co. will post 21.54 EPS for the current fiscal year.

Chemed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Thursday, May 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Thursday, May 30th. Chemed’s dividend payout ratio is 8.61%.

Insider Buying and Selling at Chemed

In other Chemed news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Chemed news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $567.54, for a total value of $2,270,160.00. Following the transaction, the chief executive officer now owns 108,549 shares of the company’s stock, valued at $61,605,899.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick P. Grace sold 284 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $540.98, for a total value of $153,638.32. Following the completion of the transaction, the director now directly owns 3,270 shares in the company, valued at approximately $1,769,004.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,784 shares of company stock valued at $3,240,053. 3.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com raised Chemed from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Royal Bank of Canada dropped their price objective on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st.

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 primarily in the United States. The company operates in VITAS and Roto-Rooter segments. 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.