Triangle Securities Wealth Management decreased its position in United Parcel Service, Inc. (NYSE:UPS – Get Rating) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,775 shares of the transportation company’s stock after selling 252 shares during the period. Triangle Securities Wealth Management’s holdings in United Parcel Service were worth $830,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of UPS. RB Capital Management LLC raised its stake in shares of United Parcel Service by 3.1% in the 1st quarter. RB Capital Management LLC now owns 2,689 shares of the transportation company’s stock valued at $577,000 after buying an additional 81 shares in the last quarter. Ergoteles LLC bought a new stake in United Parcel Service in the first quarter valued at about $1,162,000. Halbert Hargrove Global Advisors LLC raised its position 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 purchasing an additional 112 shares in the last quarter. First Western Trust Bank bought a new position in United Parcel Service during the first quarter worth about $515,000. Finally, Stevens Capital Management LP acquired a new stake in United Parcel Service during the first quarter valued at approximately $701,000. Institutional investors own 58.92% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on UPS shares. Cowen raised their target price on United Parcel Service from $187.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 1st. Wells Fargo & Company increased their target price on shares of United Parcel Service from $195.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. JPMorgan Chase & Co. set a $181.00 price objective on shares of United Parcel Service in a research note on Tuesday, January 31st. Evercore ISI lifted their target price on shares of United Parcel Service from $181.00 to $203.00 and gave the company an “in-line” rating in a research note on Monday, December 19th. Finally, BNP Paribas lowered United Parcel Service from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 30th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service presently has an average rating of “Hold” and a consensus target price of $193.54.
United Parcel Service Trading Down 0.6 %
United Parcel Service (NYSE:UPS – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The transportation company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.03. The business had revenue of $27 billion during the quarter, compared to analyst estimates of $28.03 billion. United Parcel Service had a return on equity of 66.10% and a net margin of 11.51%. United Parcel Service’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.59 EPS. On average, sell-side analysts expect that United Parcel Service, Inc. will post 11.5 earnings per share for the current fiscal year.
United Parcel Service Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 21st were paid a $1.62 dividend. The ex-dividend date was Friday, February 17th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.52. This represents a $6.48 dividend on an annualized basis and a yield of 3.47%. United Parcel Service’s dividend payout ratio is presently 49.09%.
United Parcel Service declared that its board has authorized a stock buyback program on Tuesday, January 31st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Insiders Place Their Bets
In other news, CFO Brian Newman sold 19,000 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $182.46, for a total value of $3,466,740.00. Following the sale, the chief financial officer now directly owns 11,677 shares in the company, valued at $2,130,585.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other United Parcel Service news, insider Laura J. Lane sold 14,617 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $178.16, for a total transaction of $2,604,164.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian Newman sold 19,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $182.46, for a total value of $3,466,740.00. Following the completion of the transaction, the chief financial officer now owns 11,677 shares of the company’s stock, valued at approximately $2,130,585.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,341 shares of company stock worth $9,848,061. Corporate insiders own 0.12% of the company’s stock.
About United Parcel Service
United Parcel Service, Inc is a package delivery company, which engages in the provision of global supply chain management solutions. It operates through the following segments: U.S. Domestic Package, International Package, and Supply Chain Solutions. The U.S. Domestic Package segment includes time-definite delivery of letters, documents, and packages.
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