Bar Harbor Wealth Management Has $3.63 Million Stake in United Parcel Service, Inc. $UPS

Key Points

• Bar Harbor Wealth Management reduced its stake in United Parcel Service, Inc. (UPS) by 48.4% during the second quarter, bringing its holdings to approximately $3.63 million.
• United Parcel Service reported earnings per share of $1.55 for the last quarter, missing analysts’ expectations, while revenue was $21.20 billion, exceeding estimates.
• The company recently announced a quarterly dividend of $1.64 per share, reflecting a dividend yield of 7.6% and a payout ratio of 97.62%.

Bar Harbor Wealth Management trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 48.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,912 shares of the transportation company's stock after selling 33,728 shares during the quarter. Bar Harbor Wealth Management's holdings in United Parcel Service were worth $3,625,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Founders Capital Management LLC increased its position in United Parcel Service by 8.3% during the second quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company's stock worth $11,245,000 after buying an additional 8,579 shares during the last quarter. Gallacher Capital Management LLC acquired a new position in United Parcel Service during the first quarter worth $620,000. Garde Capital Inc. acquired a new position in United Parcel Service during the first quarter worth $37,000. Capital CS Group LLC increased its position in United Parcel Service by 3.6% during the second quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company's stock worth $23,730,000 after buying an additional 8,070 shares during the last quarter. Finally, CX Institutional grew its position in shares of United Parcel Service by 39.9% in the second quarter. CX Institutional now owns 60,165 shares of the transportation company's stock valued at $6,073,000 after purchasing an additional 17,152 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William R. Johnson bought 5,000 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 10,160 shares of the company's stock, valued at $878,840. This represents a 96.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Carol B. Tome bought 11,682 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price 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 in the company, valued at $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 17,182 shares of company stock worth $1,477,382 in the last 90 days. 0.13% of the stock is owned by company insiders.

United Parcel Service Stock Up 0.3%

UPS stock opened at $86.27 on Thursday. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01. The company has a market cap of $73.12 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.58 and a beta of 1.10. The business's 50-day simple moving average is $85.79 and its 200 day simple moving average is $94.85. 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 (NYSE:UPS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is 97.62%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UPS shares. Morgan Stanley lowered their price target on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. BNP Paribas Exane raised United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research report on Thursday, July 3rd. BNP Paribas raised United Parcel Service to a "hold" rating in a research report on Thursday, July 3rd. Oppenheimer lowered their price target on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded United Parcel Service from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. One investment 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $109.38.

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.

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