State of New Jersey Common Pension Fund D Cuts Position in United Parcel Service, Inc. $UPS

State of New Jersey Common Pension Fund D trimmed its position in United Parcel Service, Inc. (NYSE:UPS) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,472 shares of the transportation company’s stock after selling 1,767 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in United Parcel Service were worth $24,677,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UPS. Graybill Wealth Management LTD. purchased a new stake in shares of United Parcel Service during the 1st quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of United Parcel Service during the 2nd quarter valued at about $26,000. Citizens National Bank Trust Department raised its holdings in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock valued at $27,000 after buying an additional 210 shares during the period. Hemington Wealth Management raised its holdings in shares of United Parcel Service by 68.9% during the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after buying an additional 115 shares during the period. Finally, Saudi Central Bank purchased a new stake in shares of United Parcel Service during the 1st quarter valued at about $32,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

Shares of UPS opened at $87.21 on Friday. The firm has a market cap of $73.91 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.61 and a beta of 1.10. The stock has a 50 day moving average of $85.52 and a 200-day moving average of $93.17. 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 52 week low of $82.00 and a 52 week high of $140.33.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same quarter 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, analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.5%. United Parcel Service’s payout ratio is currently 97.62%.

Insider Activity at United Parcel Service

In related news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 17,182 shares of company stock worth $1,477,382 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on UPS shares. Citigroup dropped their target price on United Parcel Service from $114.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Oppenheimer lowered their price objective on United Parcel Service from $114.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Truist Financial lowered their price objective on United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company lowered their price objective on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, United Parcel Service currently has a consensus rating of “Hold” and a consensus target price of $109.31.

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.