Ignite Planners LLC Lowers Holdings in United Parcel Service, Inc. (NYSE:UPS)

Ignite Planners LLC reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 6.7% during the second quarter, HoldingsChannel reports. The fund owned 3,827 shares of the transportation company’s stock after selling 274 shares during the period. Ignite Planners LLC’s holdings in United Parcel Service were worth $688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacific Center for Financial Services purchased a new stake in United Parcel Service during the 1st quarter valued at about $25,000. Worth Asset Management LLC bought a new position in shares of United Parcel Service in the first quarter worth approximately $27,000. Carderock Capital Management Inc. purchased a new stake in shares of United Parcel Service during the first quarter valued at approximately $32,000. Dark Forest Capital Management LP bought a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $31,000. Finally, Centerpoint Advisors LLC raised its holdings in United Parcel Service by 205.0% in the 1st quarter. Centerpoint Advisors LLC now owns 183 shares of the transportation company’s stock worth $36,000 after acquiring an additional 123 shares during the last quarter. 58.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nando Cesarone sold 22,825 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the completion of the transaction, the insider now owns 1 shares in the company, valued at $171.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE:UPS traded down $0.90 during trading on Monday, hitting $159.59. 907,864 shares of the company’s stock were exchanged, compared to its average volume of 3,326,182. The business’s 50-day simple moving average is $175.33 and its 200 day simple moving average is $178.27. The company has a market cap of $136.36 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.69 and a beta of 1.09. United Parcel Service, Inc. has a 52-week low of $154.87 and a 52-week high of $197.80. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 1.32.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, August 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. United Parcel Service had a net margin of 10.41% and a return on equity of 51.28%. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $23.04 billion. During the same period last year, the firm posted $3.29 EPS. The company’s revenue was down 10.9% on a year-over-year basis. As a group, equities analysts predict that United Parcel Service, Inc. will post 9.49 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $6.48 dividend on an annualized basis and a yield of 4.06%. United Parcel Service’s dividend payout ratio is currently 56.20%.

Analysts Set New Price Targets

Several analysts have commented on UPS shares. Credit Suisse Group cut their target price on United Parcel Service from $204.00 to $194.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Bank of America reduced their price objective on United Parcel Service from $190.00 to $177.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. Evercore ISI lowered their target price on shares of United Parcel Service from $185.00 to $179.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 12th. UBS Group lowered shares of United Parcel Service from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $198.00 to $185.00 in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus increased their price objective on shares of United Parcel Service to $203.00 in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, United Parcel Service has an average rating of “Hold” and an average target price of $186.89.

About United Parcel Service

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 letters, documents, small packages, and palletized freight through air and ground services in the United States.