M&T Bank Corp trimmed its stake in Chemed Corporation (NYSE:CHE – Free Report) by 34.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 636 shares of the company’s stock after selling 328 shares during the quarter. M&T Bank Corp’s holdings in Chemed were worth $391,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in Chemed in the 1st quarter valued at approximately $29,000. HM Payson & Co. bought a new position in shares of Chemed in the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC lifted its position in Chemed by 54.5% during the 1st quarter. Whipplewood Advisors LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 18 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Chemed by 633.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 88 shares of the company’s stock valued at $47,000 after acquiring an additional 76 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Chemed by 600.0% during the 1st quarter. Versant Capital Management Inc now owns 98 shares of the company’s stock worth $60,000 after purchasing an additional 84 shares during the period. 95.85% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Chemed
In other Chemed news, EVP Spencer S. Lee sold 1,500 shares of Chemed stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.99, for a total transaction of $866,985.00. Following the completion of the transaction, the executive vice president owned 14,627 shares in the company, valued at approximately $8,454,259.73. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin J. Mcnamara sold 1,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $576.45, for a total value of $864,675.00. Following the completion of the sale, the chief executive officer directly owned 101,197 shares of the company’s stock, valued at $58,335,010.65. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,500 shares of company stock valued at $2,598,450. Company insiders own 3.29% of the company’s stock.
Chemed Trading Up 0.9%
Chemed (NYSE:CHE – Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $5.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.04. Chemed had a return on equity of 27.58% and a net margin of 12.40%. The business had revenue of $646.94 million for the quarter, compared to the consensus estimate of $641.78 million. During the same quarter in the prior year, the business posted $5.20 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Chemed Corporation will post 21.43 earnings per share for the current year.
Chemed Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.44%. Chemed’s dividend payout ratio (DPR) is presently 9.74%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on CHE shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $640.00 price target (down from $674.00) on shares of Chemed in a research report on Monday, June 30th. Wall Street Zen lowered Chemed from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Bank of America decreased their price objective on Chemed from $708.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, June 30th.
View Our Latest Analysis on Chemed
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.
See Also
- Five stocks we like better than Chemed
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- 3 Stocks to Cushion Your Portfolio This Earnings Season
- How to buy stock: A step-by-step guide for beginners
- This Fund Manager Says You Should Get Out of Tesla and Apple—Now
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- JNJ’s Stock Price Is Back in Rally Mode—The Time to Buy Is Now
Receive News & Ratings for Chemed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemed and related companies with MarketBeat.com's FREE daily email newsletter.