1832 Asset Management L.P. Sells 122,837 Shares of United Parcel Service, Inc. $UPS

Key Points

• 1832 Asset Management L.P. reduced its holdings in United Parcel Service (UPS) by 41.5%, selling 122,837 shares and bringing their total to 173,210 shares valued at approximately $19 million.
• Recent analyst ratings for UPS show mixed sentiments, with target prices ranging from $75 to $145; current consensus is a "Hold" with an average target price of $112.81.
• The company plans to pay a quarterly dividend of $1.64 on September 4th, representing a dividend yield of 7.4% and a payout ratio of 97.62%.

1832 Asset Management L.P. decreased its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 41.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,210 shares of the transportation company's stock after selling 122,837 shares during the period. 1832 Asset Management L.P.'s holdings in United Parcel Service were worth $19,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Gallacher Capital Management LLC bought a new position in shares of United Parcel Service in the first quarter worth about $620,000. Garde Capital Inc. bought a new position in shares of United Parcel Service in the first quarter worth about $37,000. Golden State Wealth Management LLC grew its holdings in shares of United Parcel Service by 61.3% in the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock worth $173,000 after purchasing an additional 599 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of United Parcel Service by 5.9% in the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock worth $381,000 after purchasing an additional 193 shares during the last quarter. Finally, Advisor Resource Council bought a new position in shares of United Parcel Service in the first quarter worth about $437,000. 60.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Galvan Research dropped their target price on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Stifel Canada dropped their target price on shares of United Parcel Service from $145.00 to $124.00 in a report on Wednesday, April 30th. Bank of America reiterated a "neutral" rating and set a $98.00 target price on shares of United Parcel Service in a report on Tuesday, July 29th. Morgan Stanley dropped their target price on shares of United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Finally, Stifel Nicolaus decreased their price target on shares of United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $112.81.

United Parcel Service Stock Performance

UPS stock opened at $88.7140 on Friday. The firm has a market cap of $75.19 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.63 and a beta of 1.12. The firm has a 50-day simple moving average of $95.89 and a two-hundred day simple moving average of $101.93. United Parcel Service, Inc. has a one year low of $84.28 and a one year high of $145.01. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The company 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 business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 earnings per share. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

Insider Activity at United Parcel Service

In related news, CEO Carol B. Tome acquired 11,682 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the transaction, the director directly owned 10,160 shares in the company, valued at $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

United Parcel Service 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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