United Parcel Service, Inc. (NYSE:UPS) Stake Reduced by Spinnaker Trust

Spinnaker Trust cut its position in United Parcel Service, Inc. (NYSE:UPS) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,452 shares of the transportation company’s stock after selling 371 shares during the quarter. Spinnaker Trust’s holdings in United Parcel Service were worth $2,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UPS. Radnor Capital Management LLC bought a new stake in shares of United Parcel Service during the third quarter valued at approximately $2,507,000. Catalina Capital Group LLC lifted its stake in shares of United Parcel Service by 28.8% in the 3rd quarter. Catalina Capital Group LLC now owns 2,296 shares of the transportation company’s stock worth $313,000 after acquiring an additional 513 shares during the period. Beacon Financial Advisory LLC increased its stake in shares of United Parcel Service by 37.9% during the third quarter. Beacon Financial Advisory LLC now owns 14,408 shares of the transportation company’s stock valued at $1,964,000 after acquiring an additional 3,960 shares during the period. Balentine LLC bought a new stake in United Parcel Service during the third quarter worth approximately $337,000. Finally, Capital Management Corp VA raised its holdings in United Parcel Service by 19.4% during the third quarter. Capital Management Corp VA now owns 41,393 shares of the transportation company’s stock worth $5,644,000 after purchasing an additional 6,716 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on UPS. Oppenheimer lifted their price target on United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Robert W. Baird dropped their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Susquehanna increased their price objective on United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their target price on United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their target price on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, United Parcel Service presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.71.

United Parcel Service Stock Performance

Shares of NYSE UPS traded down $1.38 during trading hours on Wednesday, hitting $132.46. 1,495,138 shares of the company’s stock were exchanged, compared to its average volume of 4,166,086. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.25. The company’s 50-day moving average price is $131.70 and its 200-day moving average price is $135.40. The stock has a market capitalization of $113.46 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.19 and a beta of 0.99. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.13. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. United Parcel Service’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.47 earnings per share for the current fiscal year.

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.