Citigroup Inc. Decreases Stake in Chemed Co. (NYSE:CHE)

Citigroup Inc. cut its holdings in Chemed Co. (NYSE:CHE) by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,417 shares of the company’s stock after selling 631 shares during the period. Citigroup Inc. owned about 0.07% of Chemed worth $3,335,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bremer Trust National Association bought a new stake in Chemed in the 4th quarter valued at about $25,000. Bremer Bank National Association bought a new stake in Chemed in the 1st quarter valued at about $29,000. Executive Wealth Management LLC bought a new stake in Chemed in the 4th quarter valued at about $27,000. Quadrant Capital Group LLC lifted its position in Chemed by 184.8% in the 1st quarter. Quadrant Capital Group LLC now owns 94 shares of the company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Finally, Paragon Capital Management LLC bought a new stake in Chemed in the 1st quarter valued at about $40,000. 87.92% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Chemed from $313.00 to $318.00 and gave the stock a “sector perform” rating in a research report on Monday, February 25th. ValuEngine downgraded shares of Chemed from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Chemed from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Oppenheimer boosted their price target on shares of Chemed from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $347.00.

CHE stock opened at $346.35 on Wednesday. Chemed Co. has a 52 week low of $260.03 and a 52 week high of $354.43. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 3.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.70 and a current ratio of 0.73.

Chemed (NYSE:CHE) last released its quarterly earnings results on Monday, April 29th. The company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.04). Chemed had a return on equity of 35.19% and a net margin of 11.37%. The company had revenue of $462.03 million for the quarter, compared to the consensus estimate of $468.28 million. During the same quarter last year, the firm posted $2.72 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Chemed Co. will post 12.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. Chemed’s dividend payout ratio (DPR) is 10.06%.

In other news, insider Kevin J. Mcnamara sold 6,000 shares of Chemed stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $331.67, for a total value of $1,990,020.00. Following the transaction, the insider now owns 159,334 shares of the company’s stock, valued at approximately $52,846,307.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Mcnamara sold 1,400 shares of Chemed stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $324.52, for a total transaction of $454,328.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,046 shares of company stock worth $2,655,480 over the last 90 days. 3.96% of the stock is owned by insiders.

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About Chemed

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 in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

Further Reading: What is the Beige Book?

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Institutional Ownership by Quarter for Chemed (NYSE:CHE)

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