Meridian Wealth Management LLC acquired a new stake in shares of United Parcel Service, Inc. (NYSE:UPS) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,135 shares of the transportation company’s stock, valued at approximately $336,000.

A number of other institutional investors have also recently bought and sold shares of the stock. BTIM Corp. increased its position in United Parcel Service by 1.5% in the first quarter. BTIM Corp. now owns 470,649 shares of the transportation company’s stock valued at $50,501,000 after buying an additional 7,066 shares during the last quarter. Bank of The Ozarks increased its position in United Parcel Service by 17.9% in the first quarter. Bank of The Ozarks now owns 5,823 shares of the transportation company’s stock valued at $625,000 after buying an additional 886 shares during the last quarter. Honeywell International Inc. increased its position in United Parcel Service by 108.6% in the first quarter. Honeywell International Inc. now owns 402,600 shares of the transportation company’s stock valued at $43,199,000 after buying an additional 209,600 shares during the last quarter. Airain ltd purchased a new position in United Parcel Service during the first quarter valued at approximately $762,000. Finally, PGGM Investments purchased a new position in United Parcel Service during the first quarter valued at approximately $47,685,000. Institutional investors and hedge funds own 52.90% of the company’s stock.

United Parcel Service, Inc. (UPS) traded up 1.4795% on Monday, hitting $113.0888. 419,485 shares of the stock traded hands. United Parcel Service, Inc. has a 52-week low of $102.12 and a 52-week high of $120.44. The company’s 50 day moving average price is $111.07 and its 200-day moving average price is $108.07. The stock has a market cap of $97.93 billion, a price-to-earnings ratio of 27.8064 and a beta of 0.88.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.12. The firm had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. On average, analysts forecast that United Parcel Service, Inc. will post $6.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Monday, August 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, August 10th. United Parcel Service’s dividend payout ratio (DPR) is presently 81.57%.

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Several equities research analysts have issued reports on UPS shares. Zacks Investment Research upgraded United Parcel Service from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Sanford C. Bernstein restated an “outperform” rating and set a $127.00 target price on shares of United Parcel Service in a research report on Monday, July 3rd. BidaskClub upgraded United Parcel Service from a “strong sell” rating to a “sell” rating in a research report on Friday. TheStreet upgraded United Parcel Service from a “c” rating to a “b” rating in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $116.00 target price on shares of United Parcel Service in a research report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. United Parcel Service currently has an average rating of “Hold” and a consensus price target of $114.79.

In related news, insider James J. Barber sold 3,556 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $110.85, for a total transaction of $394,182.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kathleen M. Gutmann sold 2,000 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $107.49, for a total transaction of $214,980.00. The disclosure for this sale can be found here. Corporate insiders own 0.59% of the company’s stock.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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