Epoch Investment Partners Inc. cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 7.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,823 shares of the transportation company’s stock after selling 34,280 shares during the period. Epoch Investment Partners Inc.’s holdings in United Parcel Service were worth $90,222,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of United Parcel Service by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,491,599 shares of the transportation company’s stock valued at $13,204,348,000 after purchasing an additional 786,606 shares during the last quarter. FMR LLC lifted its holdings in shares of United Parcel Service by 7.9% in the 2nd quarter. FMR LLC now owns 20,389,140 shares of the transportation company’s stock valued at $4,240,328,000 after purchasing an additional 1,489,247 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of United Parcel Service by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,094,970 shares of the transportation company’s stock valued at $2,735,983,000 after purchasing an additional 714,173 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of United Parcel Service by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,879,523 shares of the transportation company’s stock valued at $2,255,623,000 after purchasing an additional 346,595 shares during the last quarter. Finally, Northern Trust Corp increased its position in United Parcel Service by 0.9% in the 1st quarter. Northern Trust Corp now owns 8,997,213 shares of the transportation company’s stock valued at $1,529,436,000 after acquiring an additional 83,101 shares during the period. 56.98% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Stifel Nicolaus upgraded United Parcel Service from a “hold” rating to a “buy” rating and boosted their price target for the company from $210.00 to $224.00 in a research report on Wednesday. Zacks Investment Research cut United Parcel Service from a “buy” rating to a “hold” rating and set a $217.00 price target on the stock. in a report on Tuesday, June 29th. UBS Group restated a “buy” rating on shares of United Parcel Service in a report on Tuesday, August 17th. Evercore ISI started coverage on United Parcel Service in a report on Tuesday, September 28th. They issued an “outperform” rating and a $225.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $192.23 price target on United Parcel Service in a report on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $208.26.
United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, July 27th. The transportation company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.25. The company had revenue of $23.42 billion for the quarter, compared to analyst estimates of $23.17 billion. United Parcel Service had a return on equity of 155.54% and a net margin of 6.66%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 EPS. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 11.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were issued a dividend of $1.02 per share. The ex-dividend date was Friday, August 20th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.14%. United Parcel Service’s payout ratio is 49.57%.
United Parcel Service announced that its board has approved a share repurchase program on Thursday, August 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
About United Parcel Service
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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