Essex Financial Services Inc. Cuts Position in United Parcel Service, Inc. (UPS)
Essex Financial Services Inc. cut its position in United Parcel Service, Inc. (NYSE:UPS) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,285 shares of the transportation company’s stock after selling 550 shares during the period. Essex Financial Services Inc.’s holdings in United Parcel Service were worth $460,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. purchased a new position in United Parcel Service during the fourth quarter valued at about $2,293,000. Chevy Chase Trust Holdings Inc. boosted its position in United Parcel Service by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 600,375 shares of the transportation company’s stock worth $64,420,000 after buying an additional 19,369 shares during the last quarter. Atlas Brown Inc. boosted its position in United Parcel Service by 0.9% in the first quarter. Atlas Brown Inc. now owns 2,296 shares of the transportation company’s stock worth $246,000 after buying an additional 20 shares during the last quarter. Worth Venture Partners LLC acquired a new position in United Parcel Service during the fourth quarter worth about $880,000. Finally, BTIM Corp. boosted its position in United Parcel Service by 1.5% in the first quarter. BTIM Corp. now owns 470,649 shares of the transportation company’s stock worth $50,501,000 after buying an additional 7,066 shares during the last quarter. 53.20% of the stock is owned by hedge funds and other institutional investors.
Shares of United Parcel Service, Inc. (UPS) traded up 0.48% during trading on Friday, reaching $112.05. The company’s stock had a trading volume of 2,185,439 shares. The company has a 50 day moving average of $110.66 and a 200-day moving average of $108.10. United Parcel Service, Inc. has a 12-month low of $102.12 and a 12-month high of $120.44. The stock has a market cap of $96.92 billion, a price-to-earnings ratio of 27.55 and a beta of 0.88.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. The business had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.49 billion. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Analysts forecast that United Parcel Service, Inc. will post $6.01 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Monday, August 14th will be given a $0.83 dividend. The ex-dividend date is Thursday, August 10th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.96%. United Parcel Service’s dividend payout ratio (DPR) is presently 81.57%.
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A number of equities analysts recently issued reports on the company. Zacks Investment Research cut United Parcel Service from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Cowen and Company restated a “hold” rating on shares of United Parcel Service in a research note on Wednesday, July 19th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $116.00 price objective on shares of United Parcel Service in a research note on Friday, May 19th. Sanford C. Bernstein restated an “outperform” rating and set a $127.00 price objective on shares of United Parcel Service in a research note on Monday, July 3rd. Finally, BidaskClub raised United Parcel Service from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $113.77.
In related news, SVP Kathleen M. Gutmann sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $107.49, for a total value of $214,980.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James J. Barber sold 3,556 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $110.85, for a total value of $394,182.60. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.
United Parcel Service Company Profile
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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