Assetmark Inc. Sells 7,009 Shares of United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Assetmark Inc. has reduced its stake in United Parcel Service (UPS) by 7.0%, ending the first quarter with 93,203 shares valued at approximately $10.25 million.
• Multiple analysts have downgraded their ratings on UPS, with Stifel Nicolaus lowering the target price from $145.00 to $124.00 while Barclays reduced it to $90.00 and maintained an "underweight" rating.
• UPS recently declared a quarterly dividend of $1.64 per share, yielding 6.33% annually, with a high dividend payout ratio of 95.63%.

Assetmark Inc. decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,203 shares of the transportation company's stock after selling 7,009 shares during the period. Assetmark Inc.'s holdings in United Parcel Service were worth $10,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Graybill Wealth Management LTD. acquired a new stake in shares of United Parcel Service in the first quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new position in United Parcel Service during the fourth quarter worth about $27,000. Citizens National Bank Trust Department raised its position in shares of United Parcel Service by 525.0% in the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after buying an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of United Parcel Service during the fourth quarter valued at approximately $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of United Parcel Service during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UPS shares. Wall Street Zen cut United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Argus lowered their price target on United Parcel Service from $150.00 to $120.00 in a report on Friday, May 23rd. Jefferies Financial Group dropped their price target on shares of United Parcel Service from $150.00 to $130.00 in a research report on Wednesday, April 30th. Oppenheimer dropped their price objective on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Vertical Research restated a "hold" rating and set a $103.00 price target on shares of United Parcel Service in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $113.38.

United Parcel Service Trading Down 1.1%

Shares of UPS traded down $1.00 during midday trading on Thursday, hitting $86.18. The stock had a trading volume of 5,822,277 shares, compared to its average volume of 6,161,712. United Parcel Service, Inc. has a fifty-two week low of $85.76 and a fifty-two week high of $145.01. The business has a 50-day simple moving average of $99.75 and a two-hundred day simple moving average of $106.69. The firm has a market cap of $72.98 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.79 earnings per share. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio is 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.