United Parcel Service, Inc. $UPS Shares Sold by Boyar Asset Management Inc.

Boyar Asset Management Inc. lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,256 shares of the transportation company’s stock after selling 803 shares during the period. United Parcel Service comprises approximately 1.0% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 24th biggest position. Boyar Asset Management Inc.’s holdings in United Parcel Service were worth $1,540,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Fortis Capital Advisors LLC raised its position in shares of United Parcel Service by 5.7% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,365 shares of the transportation company’s stock worth $340,000 after purchasing an additional 180 shares during the last quarter. Precedent Wealth Partners LLC raised its holdings in United Parcel Service by 26.6% in the 2nd quarter. Precedent Wealth Partners LLC now owns 12,006 shares of the transportation company’s stock valued at $1,212,000 after acquiring an additional 2,519 shares during the last quarter. Franklin Street Advisors Inc. NC raised its holdings in United Parcel Service by 6.9% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 3,972 shares of the transportation company’s stock valued at $401,000 after acquiring an additional 255 shares during the last quarter. Ascent Group LLC raised its holdings in United Parcel Service by 51.6% in the 2nd quarter. Ascent Group LLC now owns 35,150 shares of the transportation company’s stock valued at $3,548,000 after acquiring an additional 11,969 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in United Parcel Service by 2.5% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,712 shares of the transportation company’s stock valued at $1,384,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insiders Place Their Bets

In other United Parcel Service news, Director Christiana Smith Shi bought 500 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the transaction, the director owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director owned 10,160 shares of the company’s stock, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 17,182 shares of company stock worth $1,477,382. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of United Parcel Service from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Wolfe Research reduced their target price on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. UBS Group reduced their target price on shares of United Parcel Service from $118.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Finally, Stifel Nicolaus cut their price target on shares of United Parcel Service from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $110.16.

United Parcel Service Stock Up 1.4%

Shares of NYSE:UPS opened at $86.79 on Friday. The company has a market cap of $73.56 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.58 and a beta of 1.10. The firm’s 50-day simple moving average is $86.20 and its 200-day simple moving average is $95.48. 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 fifty-two week low of $82.00 and a fifty-two week high of $145.01.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.79 EPS. As a group, equities research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

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

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.