Abacus Planning Group Inc. grew its holdings in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,412 shares of the transportation company’s stock after acquiring an additional 127 shares during the period. Abacus Planning Group Inc.’s holdings in United Parcel Service were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in UPS. Charles Schwab Investment Management Inc. lifted its position in shares of United Parcel Service by 210.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,943,616 shares of the transportation company’s stock worth $2,878,723,000 after buying an additional 10,134,386 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of United Parcel Service by 3.2% in the first quarter. Geode Capital Management LLC now owns 13,202,727 shares of the transportation company’s stock worth $2,556,095,000 after buying an additional 414,934 shares in the last quarter. Northern Trust Corp lifted its position in shares of United Parcel Service by 0.6% in the first quarter. Northern Trust Corp now owns 9,273,417 shares of the transportation company’s stock worth $1,988,777,000 after buying an additional 54,401 shares in the last quarter. Morgan Stanley lifted its position in shares of United Parcel Service by 33.7% in the fourth quarter. Morgan Stanley now owns 7,730,090 shares of the transportation company’s stock worth $1,343,799,000 after buying an additional 1,949,775 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of United Parcel Service in the fourth quarter worth about $1,255,623,000. 58.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Atlantic Securities initiated coverage on United Parcel Service in a research report on Tuesday, June 6th. They issued a “neutral” rating and a $162.00 target price on the stock. Loop Capital cut United Parcel Service from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $195.00 in a research note on Wednesday, August 9th. TD Cowen reduced their price objective on United Parcel Service from $190.00 to $185.00 and set a “market perform” rating on the stock in a research note on Thursday. Stephens reissued an “equal weight” rating and set a $195.00 price objective on shares of United Parcel Service in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on United Parcel Service from $181.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $187.30.
Insider Buying and Selling at United Parcel Service
In other United Parcel Service news, insider Nando Cesarone sold 22,825 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $171.70, for a total value of $3,919,052.50. Following the completion of the transaction, the insider now owns 1 shares in the company, valued at $171.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is currently owned by insiders.
United Parcel Service Stock Up 0.2 %
United Parcel Service stock opened at $161.00 on Friday. United Parcel Service, Inc. has a twelve month low of $154.87 and a twelve month high of $197.80. The stock’s fifty day simple moving average is $176.08 and its 200-day simple moving average is $178.60. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $137.57 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.65 and a beta of 1.09.
United Parcel Service (NYSE:UPS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The transportation company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.05. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $23.04 billion. United Parcel Service had a return on equity of 51.28% and a net margin of 10.41%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. As a group, equities analysts expect that United Parcel Service, Inc. will post 9.59 earnings per share for the current fiscal year.
United Parcel Service Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were paid a $1.62 dividend. The ex-dividend date was Friday, August 11th. This represents a $6.48 annualized dividend and a yield of 4.02%. United Parcel Service’s dividend payout ratio is presently 56.20%.
About United Parcel Service
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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