DAVENPORT & Co LLC Reduces Stock Position in United Parcel Service, Inc. $UPS

DAVENPORT & Co LLC trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 1.6% in the second quarter, Holdings Channel reports. The institutional investor owned 948,219 shares of the transportation company’s stock after selling 15,343 shares during the quarter. DAVENPORT & Co LLC’s holdings in United Parcel Service were worth $95,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in United Parcel Service by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 66,136,226 shares of the transportation company’s stock worth $7,274,323,000 after purchasing an additional 999,832 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United Parcel Service by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock valued at $2,754,751,000 after buying an additional 1,780,807 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 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 in the last quarter. Northern Trust Corp boosted its position in shares of United Parcel Service by 0.3% in the first quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company’s stock valued at $815,633,000 after acquiring an additional 23,918 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in United Parcel Service by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,719,145 shares of the transportation company’s stock valued at $519,059,000 after acquiring an additional 171,303 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of United Parcel Service from $80.00 to $75.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 30th. Wolfe Research lowered their price objective on United Parcel Service from $113.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 1st. Susquehanna dropped their price objective on United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Barclays decreased their target price on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Finally, Wall Street Zen downgraded United Parcel Service from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $110.16.

United Parcel Service Stock Performance

NYSE:UPS opened at $86.79 on Monday. The company has a market capitalization of $73.56 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.60 and a beta of 1.10. The business has a 50 day moving average of $86.20 and a 200 day moving average of $95.17. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $145.01.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $20.90 billion. During the same period last year, the business posted $1.79 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. United Parcel Service’s payout ratio is currently 97.62%.

Insider Activity

In related news, CEO Carol B. Tome acquired 11,682 shares of the stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer 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 document filed with the SEC, which is available at this hyperlink. Also, Director Christiana Smith Shi bought 500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the acquisition, the director directly owned 500 shares of the company’s stock, valued at approximately $44,085. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,182 shares of company stock valued at $1,477,382. Insiders own 0.13% of the company’s stock.

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.