Cadence Capital Management LLC cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 23.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,954 shares of the transportation company’s stock after selling 8,698 shares during the period. Cadence Capital Management LLC’s holdings in United Parcel Service were worth $2,887,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of United Parcel Service by 19.5% in the first quarter. FMR LLC now owns 14,645,570 shares of the transportation company’s stock worth $1,636,496,000 after buying an additional 2,391,075 shares during the period. Clearbridge Investments LLC raised its holdings in shares of United Parcel Service by 4.3% in the first quarter. Clearbridge Investments LLC now owns 8,939,900 shares of the transportation company’s stock worth $998,944,000 after buying an additional 369,077 shares during the period. Geode Capital Management LLC raised its holdings in shares of United Parcel Service by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 8,008,476 shares of the transportation company’s stock worth $779,687,000 after buying an additional 585,738 shares during the period. Bank of New York Mellon Corp increased its holdings in United Parcel Service by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,112,998 shares of the transportation company’s stock worth $734,559,000 after purchasing an additional 232,764 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of United Parcel Service by 4.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,288,435 shares of the transportation company’s stock valued at $546,137,000 after acquiring an additional 224,356 shares during the period. 55.57% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on UPS shares. Bank of America lifted their price target on United Parcel Service from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank reissued a “hold” rating on shares of United Parcel Service in a research report on Tuesday, July 2nd. Credit Suisse Group set a $119.00 price objective on United Parcel Service and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $114.00 price objective on shares of United Parcel Service in a research report on Thursday, July 25th. Finally, Zacks Investment Research raised United Parcel Service from a “sell” rating to a “hold” rating and set a $101.00 price target for the company in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $119.72.
NYSE:UPS traded down $0.01 during trading hours on Friday, hitting $122.55. 464,069 shares of the stock were exchanged, compared to its average volume of 2,686,809. The company has a market cap of $105.11 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.86 and a beta of 1.23. The firm’s fifty day moving average price is $117.12 and its 200 day moving average price is $108.22. United Parcel Service, Inc. has a 52-week low of $89.89 and a 52-week high of $124.94. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 4.62.
United Parcel Service (NYSE:UPS) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.03. United Parcel Service had a return on equity of 175.60% and a net margin of 6.56%. The business had revenue of $18.05 billion for the quarter, compared to analysts’ expectations of $17.98 billion. During the same period in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts expect that United Parcel Service, Inc. will post 7.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Monday, August 19th were issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, August 16th. United Parcel Service’s dividend payout ratio is presently 53.04%.
United Parcel Service Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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