Atlantic Union Bankshares Corp Lowers Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Atlantic Union Bankshares Corp decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,721 shares of the transportation company’s stock after selling 1,037 shares during the period. Atlantic Union Bankshares Corp’s holdings in United Parcel Service were worth $2,961,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in United Parcel Service in the 2nd quarter worth about $28,000. Riverview Trust Co purchased a new position in shares of United Parcel Service during the 2nd quarter valued at approximately $32,000. Centerpoint Advisors LLC grew its stake in United Parcel Service by 291.7% in the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Princeton Global Asset Management LLC increased its holdings in United Parcel Service by 720.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company’s stock worth $34,000 after acquiring an additional 216 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after acquiring an additional 155 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UPS. Barclays reiterated an “underweight” rating and issued a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. Stifel Nicolaus boosted their price objective on United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI raised their target price on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price target on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Oppenheimer increased their price objective on United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.52.

Insider Activity

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

United Parcel Service Stock Up 0.1 %

Shares of NYSE:UPS opened at $135.85 on Friday. The company has a market capitalization of $115.93 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.23 and a beta of 0.99. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The business has a 50-day moving average price of $133.55 and a 200 day moving average price of $133.87. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Sell-side analysts expect that United Parcel Service, Inc. will post 7.48 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.80%. United Parcel Service’s dividend payout ratio is currently 98.49%.

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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.