Chemed Co. (CHE) Stake Increased by Wells Fargo & Company MN
Wells Fargo & Company MN lifted its position in shares of Chemed Co. (NYSE:CHE) by 25.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,308 shares of the company’s stock after acquiring an additional 17,304 shares during the period. Wells Fargo & Company MN owned approximately 0.53% of Chemed worth $17,238,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of CHE. JPMorgan Chase & Co. lifted its holdings in shares of Chemed by 111.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,551 shares of the company’s stock worth $36,125,000 after acquiring an additional 96,237 shares during the period. Voya Investment Management LLC lifted its stake in Chemed by 39.7% in the 2nd quarter. Voya Investment Management LLC now owns 214,764 shares of the company’s stock valued at $43,926,000 after purchasing an additional 61,056 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Chemed by 173.5% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 95,212 shares of the company’s stock valued at $19,237,000 after purchasing an additional 60,399 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Chemed by 248.5% in the 2nd quarter. Renaissance Technologies LLC now owns 70,400 shares of the company’s stock valued at $14,399,000 after purchasing an additional 50,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Chemed by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,830,711 shares of the company’s stock valued at $374,435,000 after purchasing an additional 34,938 shares during the last quarter. 97.71% of the stock is owned by institutional investors.
CHE has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of Chemed to $232.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 31st. KeyCorp reissued a “hold” rating on shares of Chemed in a research note on Friday, October 27th. TheStreet raised shares of Chemed from a “c+” rating to an “a-” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Chemed from a “hold” rating to a “buy” rating and set a $251.00 price objective for the company in a research note on Thursday, November 2nd. Finally, ValuEngine downgraded shares of Chemed from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Chemed presently has an average rating of “Hold” and a consensus target price of $236.00.
Chemed Co. (NYSE:CHE) opened at $240.99 on Thursday. The company has a market cap of $3,835.67, a P/E ratio of 29.59, a P/E/G ratio of 5.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.48. Chemed Co. has a 52 week low of $154.50 and a 52 week high of $251.00.
Chemed (NYSE:CHE) last released its quarterly earnings results on Thursday, October 26th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. The firm had revenue of $417.40 million during the quarter, compared to the consensus estimate of $414.34 million. Chemed had a net margin of 4.62% and a return on equity of 27.69%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. equities analysts expect that Chemed Co. will post 4.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 13th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, November 10th. Chemed’s payout ratio is currently 24.89%.
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Chemed Corporation purchases, operates and divests subsidiaries engaged in various business activities. The Company operates through two segments: the VITAS segment (VITAS) and the Roto-Rooter segment (Roto-Rooter). The Company’s VITAS provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers.
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