Chemed Co. (NYSE:CHE – Get Free Report) declared a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Investors of record on Monday, August 12th will be given a dividend of 0.50 per share on Friday, August 30th. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Monday, August 12th. This is a positive change from Chemed’s previous quarterly dividend of $0.40.
Chemed has raised its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend every year for the last 16 years. Chemed has a payout ratio of 7.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chemed to earn $23.68 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 8.4%.
Chemed Stock Down 0.6 %
CHE stock traded down $3.32 during trading on Friday, reaching $580.06. 85,088 shares of the company’s stock were exchanged, compared to its average volume of 88,620. Chemed has a 1-year low of $492.84 and a 1-year high of $654.62. The company’s fifty day moving average price is $547.46 and its 200-day moving average price is $582.23. The firm has a market cap of $8.78 billion, a PE ratio of 31.20, a P/E/G ratio of 2.40 and a beta of 0.43.
Insider Buying and Selling
In other Chemed news, Director Patrick P. Grace sold 284 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total value of $153,638.32. Following the transaction, the director now directly owns 3,270 shares in the company, valued at approximately $1,769,004.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Patrick P. Grace sold 284 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $540.98, for a total transaction of $153,638.32. Following the sale, the director now owns 3,270 shares of the company’s stock, valued at approximately $1,769,004.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $569.63, for a total value of $1,139,260.00. Following the sale, the chief executive officer now directly owns 105,735 shares in the company, valued at approximately $60,229,828.05. The disclosure for this sale can be found here. Insiders have sold a total of 9,784 shares of company stock worth $5,502,473 in the last three months. Insiders own 3.32% of the company’s stock.
Analysts Set New Price Targets
CHE has been the topic of a number of recent research reports. Royal Bank of Canada lowered their target price on Chemed from $712.00 to $697.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 21st. StockNews.com upgraded Chemed from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th.
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.
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