Redmond Asset Management LLC Purchases 671 Shares of United Parcel Service, Inc. (UPS)
Redmond Asset Management LLC raised its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 21.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,734 shares of the transportation company’s stock after buying an additional 671 shares during the quarter. Redmond Asset Management LLC’s holdings in United Parcel Service were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in UPS. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of United Parcel Service during the 3rd quarter valued at about $120,000. Security National Trust Co. lifted its position in shares of United Parcel Service by 3.9% during the 2nd quarter. Security National Trust Co. now owns 1,292 shares of the transportation company’s stock valued at $143,000 after buying an additional 48 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in shares of United Parcel Service by 51.2% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,235 shares of the transportation company’s stock valued at $147,000 after buying an additional 418 shares in the last quarter. Choate Investment Advisors purchased a new position in shares of United Parcel Service during the 2nd quarter valued at about $203,000. Finally, First Midwest Bank Trust Division purchased a new position in shares of United Parcel Service during the 3rd quarter valued at about $203,000. Institutional investors and hedge funds own 53.55% of the company’s stock.
A number of research analysts have recently weighed in on the company. Credit Suisse Group reaffirmed a “hold” rating and set a $137.00 price objective on shares of United Parcel Service in a research report on Wednesday, January 17th. Robert W. Baird reaffirmed a “hold” rating and set a $130.00 price objective on shares of United Parcel Service in a research report on Tuesday, January 9th. Deutsche Bank reissued a “buy” rating and issued a $145.00 price target (up from $135.00) on shares of United Parcel Service in a report on Monday, January 8th. Knight Equity reissued a “buy” rating and issued a $135.00 price target (down from $145.00) on shares of United Parcel Service in a report on Monday, January 8th. Finally, UBS Group boosted their price target on United Parcel Service from $117.00 to $126.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $126.47.
United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, February 1st. The transportation company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The business had revenue of $18.83 billion for the quarter, compared to analysts’ expectations of $18.20 billion. United Parcel Service had a return on equity of 477.77% and a net margin of 7.45%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. analysts anticipate that United Parcel Service, Inc. will post 7.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.42%. This is a boost from United Parcel Service’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, February 16th. United Parcel Service’s dividend payout ratio is 59.18%.
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United Parcel Service 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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