Sagespring Wealth Partners LLC Has $1.52 Million Stock Holdings in United Parcel Service, Inc. $UPS

Sagespring Wealth Partners LLC lessened its holdings in United Parcel Service, Inc. (NYSE:UPS) by 25.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,077 shares of the transportation company’s stock after selling 5,164 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in United Parcel Service were worth $1,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. TD Asset Management Inc boosted its position in shares of United Parcel Service by 1.4% in the second quarter. TD Asset Management Inc now owns 361,180 shares of the transportation company’s stock worth $36,458,000 after buying an additional 4,885 shares during the period. Morningstar Investment Management LLC acquired a new stake in shares of United Parcel Service in the second quarter worth $836,000. Harbour Trust & Investment Management Co boosted its position in shares of United Parcel Service by 4.0% in the second quarter. Harbour Trust & Investment Management Co now owns 6,077 shares of the transportation company’s stock worth $613,000 after buying an additional 234 shares during the period. RFG Advisory LLC raised its holdings in shares of United Parcel Service by 247.4% during the second quarter. RFG Advisory LLC now owns 31,416 shares of the transportation company’s stock worth $3,171,000 after acquiring an additional 22,374 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its holdings in shares of United Parcel Service by 52.4% during the second quarter. Alpine Woods Capital Investors LLC now owns 17,176 shares of the transportation company’s stock worth $1,734,000 after acquiring an additional 5,907 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

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 that occurred on Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the purchase, the director directly owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christiana Smith Shi bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director owned 500 shares in the company, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 17,182 shares of company stock worth $1,477,382 in the last 90 days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

UPS has been the subject of several recent research reports. Wells Fargo & Company cut their price objective on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Wednesday, July 30th. Truist Financial cut their price objective on United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Susquehanna cut their price objective on United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Vertical Research reiterated a “hold” rating and set a $103.00 price objective on shares of United Parcel Service in a report on Wednesday, July 30th. Finally, Morgan Stanley cut their price objective on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.31.

United Parcel Service Price Performance

NYSE UPS opened at $83.97 on Wednesday. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.01. The stock’s 50-day moving average is $85.65 and its two-hundred day moving average is $93.97. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $71.17 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter last year, the business earned $1.79 earnings per share. United Parcel Service’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.8%. United Parcel Service’s dividend payout ratio is presently 97.62%.

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.