Chemed Co. (NYSE:CHE) Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Chemed Co. (NYSE:CHE) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,476 shares of the company’s stock after selling 24,863 shares during the quarter. JPMorgan Chase & Co.’s holdings in Chemed were worth $148,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHE. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Chemed by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 580,316 shares of the company’s stock worth $314,868,000 after buying an additional 14,651 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Chemed by 2.7% in the second quarter. William Blair Investment Management LLC now owns 475,372 shares of the company’s stock worth $257,927,000 after acquiring an additional 12,705 shares during the last quarter. State Street Corp grew its holdings in shares of Chemed by 0.8% during the third quarter. State Street Corp now owns 464,354 shares of the company’s stock valued at $279,063,000 after purchasing an additional 3,564 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Chemed by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock worth $201,820,000 after purchasing an additional 15,791 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in shares of Chemed by 4.7% in the 3rd quarter. Impax Asset Management Group plc now owns 332,757 shares of the company’s stock worth $199,977,000 after purchasing an additional 14,814 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Insider Activity at Chemed

In related news, CEO Kevin J. Mcnamara sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $572.77, for a total value of $1,145,540.00. Following the sale, the chief executive officer now directly owns 101,735 shares in the company, valued at $58,270,755.95. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian C. Judkins bought 145 shares of Chemed stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $519.50 per share, with a total value of $75,327.50. Following the completion of the acquisition, the vice president now directly owns 1,678 shares of the company’s stock, valued at $871,721. This represents a 9.46 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada lowered their price objective on Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th.

Chemed Stock Performance

NYSE:CHE opened at $529.80 on Wednesday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.32 and a beta of 0.46. Chemed Co. has a 1 year low of $512.12 and a 1 year high of $654.62. The business has a fifty day moving average of $553.04 and a 200-day moving average of $563.18.

Chemed (NYSE:CHE) last released its earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The company had revenue of $606.18 million for the quarter, compared to analyst estimates of $612.22 million. During the same period in the previous year, the business posted $5.32 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts predict that Chemed Co. will post 21.43 EPS for the current year.

Chemed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $0.50 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Chemed’s dividend payout ratio (DPR) is 10.11%.

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.