Cornerstone Wealth Group LLC Decreases Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Cornerstone Wealth Group LLC lessened its stake in United Parcel Service, Inc. (NYSE:UPS) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,917 shares of the transportation company’s stock after selling 205 shares during the period. Cornerstone Wealth Group LLC’s holdings in United Parcel Service were worth $399,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new position in shares of United Parcel Service in the fourth quarter valued at about $26,000. Northwest Financial Advisors purchased a new position in United Parcel Service during the 4th quarter valued at about $28,000. TruNorth Capital Management LLC bought a new position in United Parcel Service during the 2nd quarter valued at approximately $28,000. Security National Bank purchased a new stake in United Parcel Service in the 4th quarter worth approximately $31,000. Finally, Pineridge Advisors LLC bought a new stake in shares of United Parcel Service in the 4th quarter worth approximately $31,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on UPS. Susquehanna decreased their target price on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their target price on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets cut their target price on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of United Parcel Service from $156.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group lowered their price objective on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.20.

Insider Buying and Selling at United Parcel Service

In related news, Director William R. Johnson purchased 5,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average price of $128.61 per share, with a total value of $643,050.00. Following the acquisition, the director now directly owns 5,160 shares in the company, valued at approximately $663,627.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

United Parcel Service Stock Up 0.9 %

United Parcel Service stock traded up $1.13 during trading hours on Friday, hitting $127.97. The stock had a trading volume of 6,310,292 shares, compared to its average volume of 4,256,522. The stock’s 50-day moving average price is $133.22 and its 200-day moving average price is $141.99. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $172.75. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $109.62 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 1.82 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The business had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Equities research analysts anticipate that United Parcel Service, Inc. will post 7.51 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 5.09%. United Parcel Service’s payout ratio is 94.49%.

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.