Sky Investment Group LLC Sells 12,321 Shares of United Parcel Service, Inc. $UPS

Sky Investment Group LLC trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 41.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,244 shares of the transportation company’s stock after selling 12,321 shares during the quarter. Sky Investment Group LLC’s holdings in United Parcel Service were worth $1,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Evelyn Partners Investment Management Europe Ltd grew its stake in United Parcel Service by 110.1% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 131 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new position in shares of United Parcel Service in the 2nd quarter worth about $26,000. Saudi Central Bank bought a new position in United Parcel Service during the first quarter valued at about $32,000. Flaharty Asset Management LLC purchased a new stake in United Parcel Service during the first quarter worth about $33,000. Finally, RMG Wealth Management LLC purchased a new stake in United Parcel Service during the second quarter worth about $34,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Trading Down 0.1%

NYSE:UPS opened at $101.93 on Friday. The company has a market cap of $86.48 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.44 and a beta of 1.11. The stock’s fifty day moving average price is $93.97 and its two-hundred day moving average price is $92.84. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $136.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 1.30.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The company had revenue of $21.42 billion during the quarter, compared to analysts’ expectations of $20.94 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Monday, November 17th. United Parcel Service’s payout ratio is presently 101.39%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UPS. Stifel Nicolaus boosted their target price on shares of United Parcel Service from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. increased their price objective on United Parcel Service from $85.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Stephens upgraded United Parcel Service to a “hold” rating in a research note on Wednesday, October 29th. Finally, Bank of America cut their price target on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.09.

United Parcel Service Profile

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.