United Parcel Service, Inc. (NYSE:UPS) Shares Acquired by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC increased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 18.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,926 shares of the transportation company’s stock after buying an additional 1,097 shares during the quarter. Precedent Wealth Partners LLC’s holdings in United Parcel Service were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. TruNorth Capital Management LLC acquired a new position in shares of United Parcel Service in the second quarter valued at approximately $28,000. Stephens Consulting LLC increased its stake in shares of United Parcel Service by 869.6% during the 1st quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Riverview Trust Co acquired a new position in shares of United Parcel Service in the second quarter worth $32,000. Centerpoint Advisors LLC raised its position in shares of United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after buying an additional 175 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its stake in United Parcel Service by 1,933.3% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the transportation company’s stock worth $36,000 after acquiring an additional 232 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson bought 5,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the purchase, the director now directly owns 5,160 shares in the company, valued at $663,627.60. This trade represents a 3,100.00 % increase 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. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UPS has been the subject of several recent analyst reports. TD Cowen began coverage on United Parcel Service in a report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target for the company. Susquehanna lowered their price target on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Robert W. Baird dropped their price objective on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Citigroup initiated coverage on United Parcel Service in a report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price target for the company. Finally, Bank of America decreased their price objective on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $151.24.

United Parcel Service Stock Up 0.4 %

UPS opened at $135.94 on Friday. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $163.82. The stock’s 50 day moving average price is $130.21 and its 200 day moving average price is $136.66. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $116.44 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.98 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion for the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. United Parcel Service’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 EPS. As a group, research analysts predict that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Monday, August 19th. United Parcel Service’s payout ratio is 106.36%.

United Parcel Service 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.