Titleist Asset Management LLC bought a new stake in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,233 shares of the transportation company’s stock, valued at approximately $433,000.
Other hedge funds have also recently made changes to their positions in the company. RB Capital Management LLC increased its holdings in shares of United Parcel Service by 3.1% during the first quarter. RB Capital Management LLC now owns 2,689 shares of the transportation company’s stock valued at $577,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC bought a new stake in United Parcel Service during the 1st quarter valued at about $1,162,000. Halbert Hargrove Global Advisors LLC raised its holdings in United Parcel Service by 10.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 1,233 shares of the transportation company’s stock worth $264,000 after buying an additional 112 shares during the last quarter. First Western Trust Bank bought a new position in shares of United Parcel Service in the first quarter worth approximately $515,000. Finally, Stevens Capital Management LP purchased a new stake in shares of United Parcel Service during the first quarter valued at approximately $701,000. 58.45% of the stock is owned by institutional investors.
Insider Activity
In related news, insider Nando Cesarone sold 22,825 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the completion of the transaction, the insider now directly owns 1 shares of the company’s stock, valued at $171.70. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.12% of the company’s stock.
United Parcel Service Stock Performance
United Parcel Service (NYSE:UPS – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The transportation company reported $2.54 earnings per share 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 business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $23.04 billion. During the same period in the prior year, the company posted $3.29 EPS. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities research analysts predict that United Parcel Service, Inc. will post 9.7 EPS for the current fiscal year.
United Parcel Service Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, August 11th. United Parcel Service’s dividend payout ratio (DPR) is presently 56.20%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on UPS. StockNews.com started coverage on United Parcel Service in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Oppenheimer increased their price objective on United Parcel Service from $188.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Barclays lifted their price objective on United Parcel Service from $172.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Bank of America lowered their target price on shares of United Parcel Service from $190.00 to $177.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Evercore ISI decreased their price objective on shares of United Parcel Service from $185.00 to $179.00 and set an “in-line” rating for the company in a report on Tuesday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.38.
Check Out Our Latest Stock Analysis on UPS
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.
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