Canandaigua National Trust Co of Florida Purchases 5,263 Shares of United Parcel Service, Inc. $UPS

Key Points

• Canandaigua National Trust Co of Florida significantly increased its holdings in United Parcel Service, Inc. by acquiring 5,263 additional shares, raising its position by 122.4% to a total of 9,562 shares valued at approximately $965,000.
• United Parcel Service reported a missed earnings estimate with $1.55 EPS for the last quarter, falling short of the consensus estimate of $1.56, despite revenue exceeding expectations at $21.20 billion.
• The company announced a quarterly dividend of $1.64, reflecting a 7.8% annualized yield, while the dividend payout ratio stands at 97.62%.

Canandaigua National Trust Co of Florida grew its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 122.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,562 shares of the transportation company's stock after acquiring an additional 5,263 shares during the quarter. Canandaigua National Trust Co of Florida's holdings in United Parcel Service were worth $965,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after buying an additional 4,988,044 shares during the period. Pacer Advisors Inc. lifted its position in shares of United Parcel Service by 1,056.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after buying an additional 3,961,255 shares during the period. Nuveen LLC bought a new position in shares of United Parcel Service during the 1st quarter worth approximately $201,358,000. Charles Schwab Investment Management Inc. lifted its position in shares of United Parcel Service by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock worth $2,754,751,000 after buying an additional 1,780,807 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of United Parcel Service by 582.0% during the 1st quarter. AQR Capital Management LLC now owns 1,180,709 shares of the transportation company's stock worth $128,886,000 after buying an additional 1,007,585 shares during the period. Institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Down 0.3%

NYSE UPS opened at $84.40 on Monday. The stock has a fifty day moving average of $91.22 and a 200-day moving average of $98.71. The stock has a market capitalization of $71.53 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week 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 released its 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 firm had revenue of $21.20 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $1.79 earnings per share. On average, equities research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is 97.62%.

Insider Activity

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction dated 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 purchase, the director owned 10,160 shares of the company's stock, valued at approximately $878,840. This represents a 96.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christiana Smith Shi acquired 500 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the purchase, the director owned 500 shares of the company's stock, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,182 shares of company stock valued at $1,477,382. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

UPS has been the subject of several analyst reports. Barclays cut their target price on United Parcel Service from $90.00 to $80.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price target on United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating for the company in a report on Wednesday, July 30th. Oppenheimer dropped their price target on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Vertical Research reaffirmed a "hold" rating and set a $103.00 price target on shares of United Parcel Service in a report on Wednesday, July 30th. Finally, Wall Street Zen raised United Parcel Service from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $112.34.

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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