Marcum Wealth LLC reduced its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,799 shares of the transportation company’s stock after selling 1,341 shares during the period. United Parcel Service accounts for about 3.5% of Marcum Wealth LLC’s portfolio, making the stock its 7th largest holding. Marcum Wealth LLC’s holdings in United Parcel Service were worth $21,795,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of UPS. Keel Point LLC acquired a new stake in United Parcel Service during the second quarter worth about $562,000. BDO Wealth Advisors LLC increased its holdings in shares of United Parcel Service by 131.3% during the 1st quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock worth $26,000 after buying an additional 88 shares during the last quarter. Corbenic Partners LLC acquired a new stake in shares of United Parcel Service during the 2nd quarter worth approximately $33,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of United Parcel Service during the 1st quarter valued at approximately $34,000. Finally, Robbins Farley LLC purchased a new position in United Parcel Service in the first quarter worth approximately $44,000. Institutional investors and hedge funds own 56.98% of the company’s stock.
Shares of NYSE:UPS traded up $1.37 during mid-day trading on Wednesday, hitting $192.38. The stock had a trading volume of 9,050 shares, compared to its average volume of 3,354,216. The company’s 50 day moving average is $198.82 and its 200-day moving average is $193.90. United Parcel Service, Inc. has a 12-month low of $154.76 and a 12-month high of $219.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market cap of $167.57 billion, a PE ratio of 27.25, a P/E/G ratio of 1.49 and a beta of 1.06.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, August 20th. United Parcel Service’s dividend payout ratio (DPR) is presently 49.57%.
United Parcel Service announced that its Board of Directors has initiated a share buyback program on Thursday, August 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have recently weighed in on UPS shares. increased their price target on United Parcel Service from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, June 1st. Barclays lifted their price objective on United Parcel Service from $205.00 to $230.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 8th. Credit Suisse Group cut their price objective on United Parcel Service from $261.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, July 28th. Stifel Nicolaus initiated coverage on United Parcel Service in a report on Monday, June 21st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $232.00 price objective on shares of United Parcel Service in a report on Wednesday, June 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service currently has a consensus rating of “Buy” and an average price target of $205.75.
United Parcel Service Profile
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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