United Parcel Service, Inc. (NYSE:UPS) Stock Position Cut by Westpac Banking Corp

Westpac Banking Corp cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 81.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,259 shares of the transportation company’s stock after selling 97,078 shares during the period. Westpac Banking Corp’s holdings in United Parcel Service were worth $3,990,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Abbrea Capital LLC lifted its holdings in shares of United Parcel Service by 0.8% in the second quarter. Abbrea Capital LLC now owns 7,123 shares of the transportation company’s stock valued at $1,277,000 after buying an additional 55 shares during the period. Beaumont Financial Advisors LLC lifted its position in shares of United Parcel Service by 3.4% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 1,678 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 55 shares in the last quarter. Loudon Investment Management LLC boosted its position in shares of United Parcel Service by 0.5% in the first quarter. Loudon Investment Management LLC now owns 11,207 shares of the transportation company’s stock worth $2,174,000 after buying an additional 56 shares during the period. Pinnacle Bancorp Inc. boosted its position in United Parcel Service by 4.5% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,300 shares of the transportation company’s stock worth $233,000 after acquiring an additional 56 shares during the period. Finally, Bristlecone Advisors LLC grew its position in United Parcel Service by 0.4% during the second quarter. Bristlecone Advisors LLC now owns 13,511 shares of the transportation company’s stock valued at $2,422,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 58.45% of the company’s stock.

United Parcel Service Stock Performance

UPS stock traded up $0.15 during midday trading on Thursday, hitting $147.32. The stock had a trading volume of 1,022,759 shares, compared to its average volume of 3,387,572. United Parcel Service, Inc. has a 52 week low of $133.68 and a 52 week high of $197.80. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.98. The stock has a 50-day simple moving average of $150.91 and a 200 day simple moving average of $166.87. The firm has a market capitalization of $125.51 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.57 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. United Parcel Service had a net margin of 9.19% and a return on equity of 43.46%. The company had revenue of $21.06 billion during the quarter, compared to the consensus estimate of $21.40 billion. During the same period last year, the firm earned $2.99 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 8.82 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 13th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, November 10th. This represents a $6.48 annualized dividend and a dividend yield of 4.40%. United Parcel Service’s dividend payout ratio (DPR) is presently 65.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TheStreet lowered United Parcel Service from a “b-” rating to a “c” rating in a report on Thursday, October 26th. TD Cowen dropped their price target on shares of United Parcel Service from $190.00 to $185.00 and set a “market perform” rating on the stock in a research note on Thursday, September 14th. Stephens reiterated an “equal weight” rating and issued a $195.00 price objective on shares of United Parcel Service in a report on Tuesday, September 12th. BMO Capital Markets boosted their price target on United Parcel Service from $180.00 to $190.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 9th. Finally, Loop Capital lowered United Parcel Service from a “buy” rating to a “hold” rating and lowered their price objective for the company from $210.00 to $195.00 in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $188.91.

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.