Apollon Wealth Management LLC raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,437 shares of the transportation company’s stock after buying an additional 110 shares during the quarter. Apollon Wealth Management LLC’s holdings in United Parcel Service were worth $507,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in UPS. BDO Wealth Advisors LLC grew its holdings in shares of United Parcel Service by 131.3% during the first quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock worth $26,000 after buying an additional 88 shares in the last quarter. Corbenic Partners LLC acquired a new position in United Parcel Service in the second quarter valued at about $33,000. Optiver Holding B.V. acquired a new position in United Parcel Service in the first quarter valued at about $35,000. Financial Insights Inc. acquired a new position in United Parcel Service in the second quarter valued at about $38,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in United Parcel Service in the first quarter valued at about $43,000. 56.98% of the stock is owned by institutional investors and hedge funds.
UPS has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of United Parcel Service from $205.00 to $230.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 8th. UBS Group reissued a “buy” rating on shares of United Parcel Service in a research report on Tuesday, August 17th. JPMorgan Chase & Co. set a $192.23 target price on shares of United Parcel Service in a research note on Tuesday, July 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parcel Service from $260.00 to $237.00 and set a “buy” rating for the company in a research note on Thursday, June 10th. Finally, Citigroup boosted their target price on shares of United Parcel Service from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $206.78.
United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 27th. The transportation company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.81 by $0.25. The business had revenue of $23.42 billion for the quarter, compared to analyst estimates of $23.17 billion. United Parcel Service had a net margin of 6.66% and a return on equity of 155.54%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 earnings per share. Analysts predict that United Parcel Service, Inc. will post 11.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were given a $1.02 dividend. The ex-dividend date was Friday, August 20th. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. United Parcel Service’s dividend payout ratio is presently 49.57%.
United Parcel Service announced that its board has approved a stock repurchase plan on Thursday, August 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are 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.
Featured Article: CBOE Russell 2000® Volatility Index
Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS).
Receive News & Ratings for United Parcel Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service and related companies with MarketBeat.com's FREE daily email newsletter.