Sugarloaf Wealth Management LLC grew its holdings in shares of Chemed Co. (NYSE:CHE – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,757 shares of the company’s stock after buying an additional 161 shares during the quarter. Chemed accounts for 0.6% of Sugarloaf Wealth Management LLC’s portfolio, making the stock its 26th largest position. Sugarloaf Wealth Management LLC’s holdings in Chemed were worth $2,577,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Legacy Capital Wealth Partners LLC purchased a new position in shares of Chemed in the first quarter valued at $581,000. Gabelli Funds LLC boosted its stake in shares of Chemed by 1.3% in the fourth quarter. Gabelli Funds LLC now owns 34,550 shares of the company’s stock valued at $17,635,000 after purchasing an additional 450 shares during the period. AGF Management Ltd. purchased a new position in shares of Chemed in the first quarter valued at $3,618,000. Pitcairn Co. boosted its stake in shares of Chemed by 2.4% in the first quarter. Pitcairn Co. now owns 1,046 shares of the company’s stock valued at $562,000 after purchasing an additional 25 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Chemed by 236.5% in the first quarter. Signaturefd LLC now owns 249 shares of the company’s stock valued at $134,000 after purchasing an additional 175 shares during the period. 94.25% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Chemed from $610.00 to $576.00 and set an “outperform” rating on the stock in a report on Monday, July 31st. StockNews.com raised shares of Chemed from a “hold” rating to a “buy” rating in a report on Wednesday, August 30th.
Chemed Price Performance
CHE traded up $2.84 during trading on Tuesday, hitting $514.21. The company had a trading volume of 29,115 shares, compared to its average volume of 71,051. The company has a market cap of $7.75 billion, a PE ratio of 34.12, a P/E/G ratio of 3.08 and a beta of 0.53. The business has a 50-day moving average of $519.35 and a 200-day moving average of $532.33. Chemed Co. has a 1-year low of $430.16 and a 1-year high of $574.66.
Chemed (NYSE:CHE – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported $4.71 earnings per share for the quarter, missing analysts’ consensus estimates of $5.09 by ($0.38). The business had revenue of $553.80 million for the quarter, compared to analyst estimates of $562.54 million. Chemed had a return on equity of 34.65% and a net margin of 10.36%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $4.84 earnings per share. Research analysts forecast that Chemed Co. will post 19.14 earnings per share for the current year.
Chemed Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.31%. This is a boost from Chemed’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, August 11th. Chemed’s dividend payout ratio is 10.67%.
Insiders Place Their Bets
In other Chemed news, CEO Kevin J. Mcnamara sold 4,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $516.43, for a total transaction of $2,065,720.00. Following the sale, the chief executive officer now directly owns 115,571 shares of the company’s stock, valued at $59,684,331.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.
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 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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