MainStreet Investment Advisors LLC cut its stake in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,208 shares of the transportation company’s stock after selling 2,496 shares during the period. MainStreet Investment Advisors LLC’s holdings in United Parcel Service were worth $2,847,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Andra AP fonden grew its stake in shares of United Parcel Service by 95.9% in the 2nd quarter. Andra AP fonden now owns 332,983 shares of the transportation company’s stock valued at $33,611,000 after purchasing an additional 163,000 shares during the last quarter. Equity Investment Corp lifted its holdings in shares of United Parcel Service by 16.8% during the second quarter. Equity Investment Corp now owns 1,130,550 shares of the transportation company’s stock worth $114,118,000 after purchasing an additional 162,364 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in United Parcel Service by 5.5% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 647,271 shares of the transportation company’s stock valued at $65,336,000 after buying an additional 34,029 shares during the last quarter. Founders Capital Management LLC grew its position in United Parcel Service by 8.3% in the 2nd quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock valued at $11,245,000 after buying an additional 8,579 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in United Parcel Service by 10.9% in the 2nd quarter. AE Wealth Management LLC now owns 49,712 shares of the transportation company’s stock valued at $5,018,000 after buying an additional 4,885 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.
United Parcel Service Stock Down 1.9%
UPS opened at $94.20 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.32 and a current ratio of 1.30. The company has a market cap of $79.84 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.29 and a beta of 1.11. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $138.67. The business’s fifty day moving average is $88.11 and its two-hundred day moving average is $92.86.
United Parcel Service Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 17th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Monday, November 17th. United Parcel Service’s dividend payout ratio (DPR) is currently 101.39%.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. BMO Capital Markets restated a “market perform” rating and issued a $96.00 target price (down previously from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of United Parcel Service from $85.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wells Fargo & Company boosted their target price on United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. UBS Group raised their price target on United Parcel Service from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Bank of America dropped their price objective on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating on the stock in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, United Parcel Service presently has a consensus rating of “Hold” and a consensus price target of $110.00.
Read Our Latest Stock Report on United Parcel Service
Insider Buying and Selling
In other news, Director Christiana Smith Shi bought 500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director owned 500 shares of the company’s stock, valued at $44,085. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.
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.
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