Eastern Bank Sells 471 Shares of United Parcel Service, Inc. $UPS

Eastern Bank reduced its holdings in United Parcel Service, Inc. (NYSE:UPS) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,525 shares of the transportation company’s stock after selling 471 shares during the quarter. Eastern Bank’s holdings in United Parcel Service were worth $356,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of UPS. Founders Capital Management LLC increased its holdings in shares of United Parcel Service by 8.3% during the second quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock valued at $11,245,000 after acquiring an additional 8,579 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in shares of United Parcel Service during the first quarter valued at approximately $620,000. Garde Capital Inc. bought a new stake in United Parcel Service during the 1st quarter valued at $37,000. Capital CS Group LLC increased its stake in United Parcel Service by 3.6% during the 2nd quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock valued at $23,730,000 after purchasing an additional 8,070 shares in the last quarter. Finally, CX Institutional increased its stake in United Parcel Service by 39.9% during the 2nd quarter. CX Institutional now owns 60,165 shares of the transportation company’s stock valued at $6,073,000 after purchasing an additional 17,152 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Insider Activity

In related news, Director William R. Johnson bought 5,000 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the transaction, the director directly owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carol B. Tome bought 11,682 shares of the company’s stock in a transaction on Friday, August 1st. The shares were bought at an average price of $85.67 per share, with a total value 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. The trade was a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is currently owned by insiders.

United Parcel Service Stock Down 2.7%

Shares of NYSE UPS opened at $82.97 on Monday. The business has a 50-day simple moving average of $85.74 and a two-hundred day simple moving average of $94.22. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01. The company has a market cap of $70.32 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.53 and a beta of 1.10.

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

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.9%. United Parcel Service’s dividend payout ratio (DPR) is currently 97.62%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on UPS shares. Bank of America decreased their target price on shares of United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. BNP Paribas upgraded shares of United Parcel Service to a “hold” rating in a research note on Thursday, July 3rd. Truist Financial reduced their price objective on shares of United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Wells Fargo & Company reduced their price objective on shares of United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.38.

About United Parcel Service

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.