Cornerstone Financial Partners LLC reduced its position in United Parcel Service, Inc. (NYSE:UPS) by 24.9% during the second quarter, Holdings Channel reports. The fund owned 2,340 shares of the transportation company’s stock after selling 777 shares during the period. Cornerstone Financial Partners LLC’s holdings in United Parcel Service were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Court Place Advisors LLC purchased a new position in shares of United Parcel Service during the second quarter worth about $344,000. Private Capital Management Inc. boosted its stake in shares of United Parcel Service by 20.8% in the second quarter. Private Capital Management Inc. now owns 4,350 shares of the transportation company’s stock valued at $481,000 after buying an additional 750 shares during the last quarter. Bourne Lent Asset Management Inc. boosted its stake in shares of United Parcel Service by 1.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 24,936 shares of the transportation company’s stock valued at $2,758,000 after buying an additional 451 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of United Parcel Service by 24.7% in the second quarter. Manning & Napier Advisors LLC now owns 149,738 shares of the transportation company’s stock valued at $16,558,000 after buying an additional 29,633 shares during the last quarter. Finally, Patriot Wealth Management Inc. boosted its stake in shares of United Parcel Service by 3.6% in the second quarter. Patriot Wealth Management Inc. now owns 69,750 shares of the transportation company’s stock valued at $7,714,000 after buying an additional 2,404 shares during the last quarter. 52.90% of the stock is owned by institutional investors and hedge funds.

United Parcel Service, Inc. (NYSE:UPS) traded up 0.609% during midday trading on Wednesday, reaching $114.875. The company had a trading volume of 974,170 shares. United Parcel Service, Inc. has a one year low of $102.12 and a one year high of $120.44. The stock has a market capitalization of $99.48 billion, a price-to-earnings ratio of 28.246 and a beta of 0.88. The company has a 50-day moving average price of $111.26 and a 200-day moving average price of $107.90.

United Parcel Service (NYSE:UPS) last announced 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. United Parcel Service had a return on equity of 417.18% and a net margin of 5.68%. The company had revenue of $15.75 billion for the quarter, compared to the consensus estimate of $15.49 billion. During the same quarter in the previous year, the business earned $1.43 EPS. United Parcel Service’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that United Parcel Service, Inc. will post $6.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.83 per share. The ex-dividend date is Thursday, August 10th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.91%. United Parcel Service’s dividend payout ratio (DPR) is 81.57%.

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Several brokerages have recently weighed in on UPS. BidaskClub cut United Parcel Service from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Citigroup Inc. raised United Parcel Service from a “neutral” rating to a “buy” rating and increased their price target for the company from $115.00 to $128.00 in a research note on Tuesday, August 8th. Credit Suisse Group reissued a “neutral” rating and issued a $108.00 price target on shares of United Parcel Service in a research note on Tuesday. TheStreet raised United Parcel Service from a “c” rating to a “b” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research cut United Parcel Service from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.57.

In other United Parcel Service news, insider James J. Barber sold 3,556 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $110.85, for a total transaction of $394,182.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

About United Parcel Service

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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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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