Procyon Advisors LLC lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,802 shares of the transportation company’s stock after selling 402 shares during the period. Procyon Advisors LLC’s holdings in United Parcel Service were worth $2,699,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC grew its position in shares of United Parcel Service by 6.5% during the first quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock worth $991,556,000 after acquiring an additional 406,248 shares during the last quarter. Bank of New York Mellon Corp increased its stake in United Parcel Service by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock valued at $888,254,000 after buying an additional 20,426 shares during the period. American Century Companies Inc. increased its stake in United Parcel Service by 10.5% during the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock valued at $567,157,000 after buying an additional 393,434 shares during the period. Price T Rowe Associates Inc. MD increased its stake in United Parcel Service by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock valued at $611,445,000 after buying an additional 101,349 shares during the period. Finally, Capital World Investors increased its stake in United Parcel Service by 9.6% during the 1st quarter. Capital World Investors now owns 3,011,299 shares of the transportation company’s stock valued at $447,569,000 after buying an additional 263,313 shares during the period. Institutional investors own 60.26% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Stephens lowered their target price on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Citigroup assumed coverage on shares of United Parcel Service in a research note on Wednesday, October 9th. They set a “buy” rating and a $162.00 target price on the stock. Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lowered their price objective on shares of United Parcel Service from $170.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group lowered their price objective on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.24.
Insider Activity at United Parcel Service
In other United Parcel Service news, Director William R. Johnson bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the completion of the transaction, the director now directly owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The trade was a 3,100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.
United Parcel Service Stock Performance
UPS stock opened at $134.57 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $115.27 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.95 and a beta of 0.99. The firm has a 50 day simple moving average of $129.39 and a 200 day simple moving average of $136.86. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82.
United Parcel Service (NYSE:UPS – Get Free Report) last posted 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). The company had revenue of $21.82 billion for the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.54 earnings per share. Research analysts anticipate that United Parcel Service, Inc. will post 7.43 earnings per share for the current fiscal year.
United Parcel Service Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.85%. United Parcel Service’s dividend payout ratio is currently 106.36%.
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.
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