Absher Wealth Management LLC Boosts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Absher Wealth Management LLC raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 26.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,666 shares of the transportation company’s stock after purchasing an additional 775 shares during the period. Absher Wealth Management LLC’s holdings in United Parcel Service were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of UPS. Archer Investment Corp raised its stake in United Parcel Service by 3.0% during the 2nd quarter. Archer Investment Corp now owns 3,464 shares of the transportation company’s stock valued at $474,000 after buying an additional 102 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in United Parcel Service by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 62,604 shares of the transportation company’s stock valued at $8,567,000 after acquiring an additional 744 shares during the last quarter. Little House Capital LLC lifted its holdings in United Parcel Service by 38.1% in the second quarter. Little House Capital LLC now owns 13,845 shares of the transportation company’s stock valued at $1,895,000 after acquiring an additional 3,817 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in shares of United Parcel Service by 9.5% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 5,619 shares of the transportation company’s stock valued at $769,000 after purchasing an additional 488 shares during the period. Finally, Capital Square LLC increased its position in shares of United Parcel Service by 2.1% during the 2nd quarter. Capital Square LLC now owns 5,674 shares of the transportation company’s stock valued at $824,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Transactions at United Parcel Service

In related news, Director William R. Johnson purchased 5,000 shares of United Parcel Service stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average price of $128.61 per share, with a total value of $643,050.00. Following the purchase, the director now directly owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on UPS shares. Bank of America cut their target price on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets decreased their target price on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their price target on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, June 24th. Susquehanna decreased their price objective on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Stephens cut their price objective on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.20.

United Parcel Service Stock Performance

NYSE UPS opened at $127.50 on Wednesday. The company has a market cap of $109.21 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.89 and a beta of 0.99. The business’s 50 day moving average price is $132.13 and its 200-day moving average price is $141.01. United Parcel Service, Inc. has a fifty-two week low of $123.12 and a fifty-two week high of $168.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25.

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

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 5.11%. United Parcel Service’s payout ratio is 94.49%.

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.