Independence Bank of Kentucky Raises Stake in United Parcel Service, Inc. (NYSE:UPS)

Independence Bank of Kentucky increased its stake in United Parcel Service, Inc. (NYSE:UPS) by 21.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 20,259 shares of the transportation company’s stock after buying an additional 3,580 shares during the quarter. Independence Bank of Kentucky’s holdings in United Parcel Service were worth $2,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UPS. TruNorth Capital Management LLC purchased a new stake in United Parcel Service during the second quarter valued at about $28,000. Pineridge Advisors LLC purchased a new stake in United Parcel Service during the fourth quarter valued at about $31,000. Riverview Trust Co purchased a new stake in United Parcel Service during the second quarter valued at about $32,000. Centerpoint Advisors LLC lifted its holdings in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Finally, Stephens Consulting LLC lifted its holdings in United Parcel Service by 869.6% during the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 200 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the purchase, the director now directly owns 5,160 shares of the company’s stock, valued at $663,627.60. The trade was a 3,100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on UPS. Barclays dropped their price objective on shares of United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Bank of America decreased their price target on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Stifel Nicolaus decreased their price target on United Parcel Service from $170.00 to $151.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Susquehanna decreased their price target on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Oppenheimer decreased their price target on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.24.

United Parcel Service Price Performance

UPS traded up $1.14 during midday trading on Friday, hitting $133.98. The stock had a trading volume of 85,476 shares, compared to its average volume of 4,198,263. The company has a market cap of $114.76 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. The business has a fifty day moving average of $129.08 and a 200 day moving average of $137.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion during the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 EPS. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.42 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 106.36%.

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.