Boyar Asset Management Inc. Decreases Stock Position in United Parcel Service, Inc. $UPS

Boyar Asset Management Inc. cut its position in United Parcel Service, Inc. (NYSE:UPS) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,256 shares of the transportation company’s stock after selling 803 shares during the quarter. United Parcel Service accounts for 1.0% of Boyar Asset Management Inc.’s portfolio, making the stock its 24th largest position. Boyar Asset Management Inc.’s holdings in United Parcel Service were worth $1,540,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. bought a new position in United Parcel Service during the 1st quarter valued at $26,000. Citizens National Bank Trust Department raised its holdings in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock worth $27,000 after purchasing an additional 210 shares during the period. Hemington Wealth Management raised its holdings in shares of United Parcel Service by 68.9% during the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock worth $31,000 after purchasing an additional 115 shares during the period. Saudi Central Bank acquired a new stake in shares of United Parcel Service during the first quarter worth $32,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of United Parcel Service in the 1st quarter worth about $33,000. 60.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director William R. Johnson bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carol B. Tome bought 11,682 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 17,182 shares of company stock valued at $1,477,382 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

United Parcel Service Price Performance

Shares of UPS opened at $86.79 on Friday. The firm has a market cap of $73.56 billion, a PE ratio of 12.92, a PEG ratio of 1.58 and a beta of 1.10. The firm’s 50 day moving average price is $86.20 and its 200 day moving average price is $95.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01.

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

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were given 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 7.6%. United Parcel Service’s dividend payout ratio (DPR) is currently 97.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Truist Financial reduced their price objective on shares of United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Bank of America decreased their target price on shares of United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a report on Friday, September 26th. Susquehanna decreased their target price on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Finally, Galvan Research decreased their target price on shares of United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.16.

United Parcel Service Company 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.