626 Financial LLC bought a new position in United Parcel Service, Inc. (NYSE:UPS – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 2,256 shares of the transportation company’s stock, valued at approximately $228,000.
Several other large investors have also recently added to or reduced their stakes in UPS. Goldman Sachs Group Inc. increased its position in United Parcel Service by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock worth $991,132,000 after buying an additional 4,988,044 shares during the period. Pacer Advisors Inc. grew its stake in shares of United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock worth $476,936,000 after purchasing an additional 3,961,255 shares in the last quarter. Nuveen LLC bought a new position in shares of United Parcel Service in the first quarter worth $201,358,000. Charles Schwab Investment Management Inc. grew its stake in shares of United Parcel Service by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock worth $2,754,751,000 after purchasing an additional 1,780,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of United Parcel Service by 443.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock worth $156,453,000 after purchasing an additional 1,264,842 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.
United Parcel Service Trading Up 8.2%
Shares of UPS stock opened at $96.52 on Wednesday. The stock has a 50-day simple moving average of $85.75 and a 200 day simple moving average of $93.06. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $138.67. The stock has a market capitalization of $81.80 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.65 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.
United Parcel Service Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.8%. United Parcel Service’s dividend payout ratio (DPR) is 97.62%.
Insider Activity at United Parcel Service
In related news, CEO Carol B. Tome purchased 11,682 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William R. Johnson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director directly owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 17,182 shares of company stock worth $1,477,382 in the last quarter. 0.13% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Citigroup decreased their price target on United Parcel Service from $114.00 to $112.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Oppenheimer decreased their price target on United Parcel Service from $114.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of United Parcel Service in a research note on Wednesday, October 8th. Morgan Stanley decreased their price target on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Finally, Bank of America decreased their price target on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $108.97.
Get Our Latest Analysis on United Parcel Service
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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.
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