TRUE Private Wealth Advisors reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 48.3% during the 2nd quarter, Holdings Channel reports. The fund owned 2,521 shares of the transportation company’s stock after selling 2,351 shares during the quarter. TRUE Private Wealth Advisors’ holdings in United Parcel Service were worth $524,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MD Financial Management Inc. increased its position in shares of United Parcel Service by 964.4% during the first quarter. MD Financial Management Inc. now owns 6,642 shares of the transportation company’s stock worth $1,129,000 after purchasing an additional 6,018 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of United Parcel Service by 238.7% during the 1st quarter. Acadian Asset Management LLC now owns 172,386 shares of the transportation company’s stock worth $29,304,000 after acquiring an additional 121,487 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of United Parcel Service by 603.7% during the 2nd quarter. Clark Capital Management Group Inc. now owns 21,584 shares of the transportation company’s stock worth $4,489,000 after purchasing an additional 18,517 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in United Parcel Service by 4.7% in the 2nd quarter. Congress Asset Management Co. MA now owns 53,590 shares of the transportation company’s stock valued at $11,145,000 after acquiring an additional 2,426 shares during the last quarter. Finally, Man Group plc raised its holdings in United Parcel Service by 473.2% in the 1st quarter. Man Group plc now owns 206,621 shares of the transportation company’s stock valued at $35,124,000 after acquiring an additional 170,577 shares during the last quarter. Institutional investors and hedge funds own 56.98% of the company’s stock.
A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of United Parcel Service from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, June 1st. Stifel Nicolaus started coverage on shares of United Parcel Service in a research note on Monday, June 21st. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on shares of United Parcel Service from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, June 10th. Stephens increased their target price on shares of United Parcel Service from $207.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 10th. Finally, Raymond James raised their target price on shares of United Parcel Service from $223.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Friday, June 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $205.75.
United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, July 27th. The transportation company reported $3.06 EPS for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.25. United Parcel Service had a return on equity of 155.54% and a net margin of 6.66%. The business had revenue of $23.42 billion for the quarter, compared to analysts’ expectations of $23.17 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts expect that United Parcel Service, Inc. will post 11.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were paid a dividend of $1.02 per share. The ex-dividend date was Friday, August 20th. This represents a $4.08 annualized dividend and a dividend yield of 2.14%. United Parcel Service’s dividend payout ratio is presently 49.57%.
United Parcel Service declared that its board has authorized a share repurchase plan on Thursday, August 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
About United Parcel Service
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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