Syntegra Private Wealth Group LLC acquired a new position in United Parcel Service, Inc. (NYSE:UPS – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,087 shares of the transportation company’s stock, valued at approximately $405,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of UPS. Worth Asset Management LLC purchased a new position in shares of United Parcel Service in the 1st quarter worth $27,000. Dark Forest Capital Management LP bought a new position in shares of United Parcel Service in the 4th quarter valued at about $31,000. Carderock Capital Management Inc. purchased a new position in United Parcel Service in the first quarter worth about $32,000. Centerpoint Advisors LLC increased its stake in United Parcel Service by 205.0% during the first quarter. Centerpoint Advisors LLC now owns 183 shares of the transportation company’s stock worth $36,000 after acquiring an additional 123 shares during the last quarter. Finally, Heritage Wealth Management LLC raised its position in United Parcel Service by 126.2% during the fourth quarter. Heritage Wealth Management LLC now owns 242 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 135 shares during the period. 58.45% of the stock is currently owned by institutional investors.
In other news, insider Nando Cesarone sold 22,825 shares of United Parcel Service stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total value of $3,919,052.50. Following the transaction, the insider now directly owns 1 shares in the company, valued at approximately $171.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.12% of the company’s stock.
United Parcel Service Trading Down 2.4 %
United Parcel Service (NYSE:UPS – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. United Parcel Service had a return on equity of 51.28% and a net margin of 10.41%. The business had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $23.04 billion. During the same period last year, the business posted $3.29 EPS. The business’s revenue was down 10.9% compared to the same quarter last year. As a group, equities analysts expect that United Parcel Service, Inc. will post 9.7 EPS for the current year.
United Parcel Service Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.13%. United Parcel Service’s dividend payout ratio is presently 56.20%.
Analysts Set New Price Targets
Several research firms have recently issued reports on UPS. Oppenheimer raised their price objective on United Parcel Service from $188.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. raised their price objective on United Parcel Service from $181.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. BMO Capital Markets raised their price objective on United Parcel Service from $180.00 to $190.00 and gave the company a “market perform” rating in a research note on Wednesday, August 9th. Barclays raised their price objective on United Parcel Service from $172.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group lowered their price objective on United Parcel Service from $204.00 to $194.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $187.38.
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 letters, documents, small packages, and palletized freight through air and ground services in the United States.
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