Morningstar Investment Management LLC bought a new stake in United Parcel Service, Inc. (NYSE:UPS – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,285 shares of the transportation company’s stock, valued at approximately $836,000.
A number of other institutional investors also recently modified their holdings of UPS. 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 valued at $991,132,000 after purchasing an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after purchasing an additional 3,961,255 shares in the last quarter. Nuveen LLC bought a new stake in shares of United Parcel Service in the first quarter valued at about $201,358,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of United Parcel Service by 7.7% in 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 purchasing an additional 1,780,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of United Parcel Service by 443.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after purchasing an additional 1,264,842 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.
Insider Buying and Selling at United Parcel Service
In other United Parcel Service news, CEO Carol B. Tome acquired 11,682 shares of the company’s stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the purchase, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Johnson acquired 5,000 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the purchase, the director directly owned 10,160 shares of the company’s stock, valued at approximately $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock worth $1,477,382 over the last 90 days. Company insiders own 0.13% of the company’s stock.
United Parcel Service Price Performance
United Parcel Service (NYSE:UPS – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.01). The business had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. United Parcel Service’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS. On average, analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.
United Parcel Service Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.9%. United Parcel Service’s dividend payout ratio is currently 97.62%.
Analyst Upgrades and Downgrades
UPS has been the topic of a number of research reports. Stifel Nicolaus cut their price target on United Parcel Service from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Vertical Research reiterated a “hold” rating and set a $103.00 target price on shares of United Parcel Service in a report on Wednesday, July 30th. BMO Capital Markets reiterated a “market perform” rating and set a $96.00 target price (down previously from $125.00) on shares of United Parcel Service in a report on Friday, September 19th. Evercore ISI dropped their target price on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating on the stock in a report on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of United Parcel Service in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.31.
Read Our Latest Report on United Parcel Service
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.
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