Cohen Klingenstein LLC Trims Stake in United Parcel Service, Inc. $UPS

Cohen Klingenstein LLC cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,322 shares of the transportation company’s stock after selling 1,447 shares during the period. Cohen Klingenstein LLC’s holdings in United Parcel Service were worth $2,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock worth $991,132,000 after acquiring an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of United Parcel Service by 1,056.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock worth $476,936,000 after purchasing an additional 3,961,255 shares during the period. Nuveen LLC purchased a new stake in shares of United Parcel Service in the 1st quarter worth approximately $201,358,000. Charles Schwab Investment Management Inc. boosted its stake in shares of United Parcel Service by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in United Parcel Service by 443.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after buying an additional 1,264,842 shares during the period. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 1.0%

NYSE:UPS opened at $84.35 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01. The company has a market cap of $71.49 billion, a PE ratio of 12.55, a P/E/G ratio of 1.54 and a beta of 1.10. The company’s 50 day moving average is $86.88 and its two-hundred day moving average is $95.92.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. Analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. United Parcel Service’s dividend payout ratio is currently 97.62%.

Insider Activity

In other news, Director Christiana Smith Shi acquired 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the purchase, the director directly owned 500 shares in the company, valued at $44,085. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Johnson bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the transaction, the director owned 10,160 shares of the company’s stock, valued at $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 17,182 shares of company stock valued at $1,477,382. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Stifel Nicolaus dropped their price objective on United Parcel Service from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Barclays cut their target price on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Evercore ISI decreased their price target on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. Finally, Susquehanna cut their price objective on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, United Parcel Service currently has a consensus rating of “Hold” and an average target price of $111.38.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.