Redmond Asset Management LLC Increases Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Redmond Asset Management LLC grew its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 74.6% during the fourth quarter, HoldingsChannel reports. The firm owned 30,598 shares of the transportation company’s stock after buying an additional 13,077 shares during the period. United Parcel Service accounts for approximately 1.0% of Redmond Asset Management LLC’s holdings, making the stock its 28th largest holding. Redmond Asset Management LLC’s holdings in United Parcel Service were worth $3,858,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cigna Investments Inc. New increased its holdings in United Parcel Service by 1.0% during the 3rd quarter. Cigna Investments Inc. New now owns 7,508 shares of the transportation company’s stock worth $1,024,000 after purchasing an additional 75 shares during the last quarter. Pacific Sage Partners LLC increased its stake in shares of United Parcel Service by 4.8% in the fourth quarter. Pacific Sage Partners LLC now owns 1,677 shares of the transportation company’s stock worth $212,000 after buying an additional 77 shares during the last quarter. Banco Santander S.A. increased its stake in shares of United Parcel Service by 0.6% in the third quarter. Banco Santander S.A. now owns 12,596 shares of the transportation company’s stock worth $1,717,000 after buying an additional 79 shares during the last quarter. Quent Capital LLC increased its stake in shares of United Parcel Service by 16.7% in the fourth quarter. Quent Capital LLC now owns 558 shares of the transportation company’s stock worth $70,000 after buying an additional 80 shares during the last quarter. Finally, Tradewinds LLC. increased its stake in shares of United Parcel Service by 1.8% in the third quarter. Tradewinds LLC. now owns 4,487 shares of the transportation company’s stock worth $612,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UPS. Wolfe Research raised shares of United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 target price for the company in a research report on Wednesday, January 8th. Loop Capital lowered their price objective on United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Bank of America lowered their price target on United Parcel Service from $150.00 to $133.00 and set a “buy” rating for the company in a report on Friday, January 31st. Robert W. Baird cut United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $130.00 in a research note on Friday, January 31st. Finally, Stifel Nicolaus dropped their target price on shares of United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.73.

United Parcel Service Stock Performance

Shares of UPS opened at $116.35 on Friday. The firm has a 50-day moving average price of $123.21 and a 200 day moving average price of $128.33. The firm has a market capitalization of $99.38 billion, a PE ratio of 17.21, a P/E/G ratio of 1.55 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 52-week low of $109.40 and a 52-week high of $158.95.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period in the previous year, the firm earned $2.47 earnings per share. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 5.64%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Insider Activity at United Parcel Service

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the completion of the sale, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

United Parcel Service Profile

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.