Convergence Investment Partners LLC Raises Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Convergence Investment Partners LLC grew its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 114.9% during the second quarter, HoldingsChannel.com reports. The fund owned 12,865 shares of the transportation company’s stock after buying an additional 6,878 shares during the quarter. Convergence Investment Partners LLC’s holdings in United Parcel Service were worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Private Wealth Strategies L.L.C. lifted its stake in shares of United Parcel Service by 1.3% in the 2nd quarter. Private Wealth Strategies L.L.C. now owns 7,366 shares of the transportation company’s stock worth $1,008,000 after purchasing an additional 96 shares during the period. Guidance Capital Inc. increased its holdings in United Parcel Service by 6.3% during the second quarter. Guidance Capital Inc. now owns 11,648 shares of the transportation company’s stock valued at $1,519,000 after buying an additional 687 shares during the last quarter. DDD Partners LLC bought a new position in United Parcel Service in the second quarter worth approximately $15,634,000. Stiles Financial Services Inc boosted its stake in shares of United Parcel Service by 9.1% during the 2nd quarter. Stiles Financial Services Inc now owns 9,223 shares of the transportation company’s stock worth $1,262,000 after acquiring an additional 771 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of United Parcel Service by 4.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 10,801 shares of the transportation company’s stock valued at $1,478,000 after acquiring an additional 487 shares during the period. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UPS has been the topic of several analyst reports. Stephens lowered their target price on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Stifel Nicolaus lowered their price target on shares of United Parcel Service from $170.00 to $151.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Susquehanna reduced their price objective on shares of United Parcel Service from $160.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. TD Cowen initiated coverage on United Parcel Service in a research note on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target for the company. Finally, Oppenheimer dropped their price objective on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and an average target price of $151.20.

United Parcel Service Trading Up 1.2 %

Shares of UPS stock traded up $1.57 during trading hours on Monday, reaching $128.55. 4,116,000 shares of the stock were exchanged, compared to its average volume of 4,240,979. The firm has a market capitalization of $110.11 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $172.75. The company’s 50-day moving average price is $132.47 and its 200-day moving average price is $141.28. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 EPS. As a group, equities analysts anticipate that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 5.07%. The ex-dividend date is Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 94.49%.

Insiders Place Their Bets

In related news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average price of $128.61 per share, for a total transaction of $643,050.00. Following the acquisition, the director now directly owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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