Cullinan Associates Inc. reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 33.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,042 shares of the transportation company’s stock after selling 69,038 shares during the period. United Parcel Service accounts for approximately 1.2% of Cullinan Associates Inc.’s holdings, making the stock its 10th biggest position. Cullinan Associates Inc.’s holdings in United Parcel Service were worth $15,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UPS. BlackRock Inc. raised its holdings in shares of United Parcel Service by 2,550.9% in the 1st quarter. BlackRock Inc. now owns 45,051,373 shares of the transportation company’s stock worth $4,834,013,000 after purchasing an additional 43,351,873 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of United Parcel Service by 3,875,867.0% in the 1st quarter. Lazard Asset Management LLC now owns 4,341,083 shares of the transportation company’s stock worth $465,797,000 after purchasing an additional 4,340,971 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of United Parcel Service by 5.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 24,295,470 shares of the transportation company’s stock worth $2,606,905,000 after purchasing an additional 1,246,981 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of United Parcel Service by 4.0% in the 1st quarter. Wellington Management Group LLP now owns 29,387,614 shares of the transportation company’s stock worth $3,153,291,000 after purchasing an additional 1,117,802 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of United Parcel Service by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 47,140,675 shares of the transportation company’s stock worth $5,058,196,000 after purchasing an additional 1,030,326 shares in the last quarter. Institutional investors and hedge funds own 52.86% of the company’s stock.

In related news, EVP Alan Gershenhorn sold 17,699 shares of United Parcel Service stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total transaction of $2,019,455.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James J. Barber sold 3,556 shares of United Parcel Service 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 disclosure for this sale can be found here. 0.59% of the stock is owned by company insiders.

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United Parcel Service, Inc. (NYSE UPS) traded up 0.35% during midday trading on Friday, hitting $117.67. 1,883,335 shares of the stock were exchanged. The company has a 50 day moving average price of $114.04 and a 200 day moving average price of $109.26. The firm has a market capitalization of $101.90 billion, a price-to-earnings ratio of 28.93 and a beta of 0.88. United Parcel Service, Inc. has a one year low of $102.12 and a one year high of $120.44.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The business had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.49 billion. During the same quarter last year, the firm earned $1.43 EPS. United Parcel Service’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that United Parcel Service, Inc. will post $6.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Monday, August 14th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 10th. United Parcel Service’s payout ratio is 81.57%.

UPS has been the topic of a number of research reports. BidaskClub upgraded shares of United Parcel Service from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company reiterated a “hold” rating on shares of United Parcel Service in a report on Wednesday, July 19th. Robert W. Baird reiterated a “hold” rating and issued a $118.00 target price on shares of United Parcel Service in a report on Friday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $127.00 target price on shares of United Parcel Service in a report on Monday, July 3rd. Finally, Zacks Investment Research downgraded shares of United Parcel Service from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. United Parcel Service has a consensus rating of “Hold” and an average price target of $115.27.

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.

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

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