Harvest Fund Management Co. Ltd Cuts Stake in United Parcel Service, Inc. (NYSE:UPS)

Harvest Fund Management Co. Ltd cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 48.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,794 shares of the transportation company’s stock after selling 1,655 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in United Parcel Service were worth $321,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pacific Center for Financial Services purchased a new position in United Parcel Service in the first quarter valued at about $25,000. Worth Asset Management LLC acquired a new stake in shares of United Parcel Service during the first quarter valued at about $27,000. Carderock Capital Management Inc. acquired a new stake in shares of United Parcel Service during the first quarter valued at about $32,000. Dark Forest Capital Management LP acquired a new stake in shares of United Parcel Service during the fourth quarter valued at about $31,000. Finally, Centerpoint Advisors LLC grew its stake in shares of United Parcel Service by 205.0% during the first quarter. Centerpoint Advisors LLC now owns 183 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 123 shares in the last quarter. 58.45% of the stock is owned by hedge funds and other institutional investors.

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 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 owns 1 shares of the company’s stock, valued at $171.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.12% of the stock is owned by corporate insiders.

United Parcel Service Stock Performance

UPS opened at $160.73 on Friday. The business’s 50 day moving average is $176.08 and its 200-day moving average is $178.60. The stock has a market cap of $137.34 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. United Parcel Service, Inc. has a twelve month low of $154.87 and a twelve month high of $197.80.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, August 8th. The transportation company reported $2.54 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $23.04 billion. During the same quarter in the previous year, the company earned $3.29 earnings per share. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, analysts predict that United Parcel Service, Inc. will post 9.59 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were issued a $1.62 dividend. The ex-dividend date was Friday, August 11th. This represents a $6.48 annualized dividend and a dividend yield of 4.03%. United Parcel Service’s dividend payout ratio is currently 56.20%.

Wall Street Analyst Weigh In

UPS has been the subject of several recent analyst reports. Stephens restated an “equal weight” rating and set a $195.00 target price on shares of United Parcel Service in a research note on Tuesday. Stifel Nicolaus lifted their price target on United Parcel Service to $203.00 in a research note on Wednesday, July 26th. StockNews.com initiated coverage on United Parcel Service in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America decreased their price target on United Parcel Service from $190.00 to $177.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, UBS Group downgraded United Parcel Service from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $198.00 to $185.00 in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, United Parcel Service has an average rating of “Hold” and a consensus target price of $187.30.

United Parcel Service Company 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.