CCM Investment Group LLC Buys Shares of 49,859 United Parcel Service, Inc. (NYSE:UPS)

Key Points

• CCM Investment Group LLC acquired 49,859 shares of United Parcel Service, Inc. for approximately $5.47 million in the first quarter, increasing institutional ownership in the company.
• United Parcel Service reported quarterly earnings of $1.55 EPS, slightly missing analysts' estimates, with revenue of $21.20 billion, which was above expectations.
• The company announced a quarterly dividend of $1.64 per share, translating to a 7.6% dividend yield, with a high dividend payout ratio of 97.62%.

CCM Investment Group LLC purchased a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 49,859 shares of the transportation company's stock, valued at approximately $5,468,000.

A number of other institutional investors also recently made changes to their positions in the stock. Colonial Trust Co SC raised its holdings in shares of United Parcel Service by 1.4% in the 4th quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock worth $911,000 after purchasing an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC raised its holdings in shares of United Parcel Service by 2.5% in the 1st quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock worth $454,000 after purchasing an additional 101 shares in the last quarter. TCV Trust & Wealth Management Inc. raised its holdings in shares of United Parcel Service by 1.4% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock worth $830,000 after purchasing an additional 103 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of United Parcel Service by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,054 shares of the transportation company's stock worth $259,000 after purchasing an additional 104 shares in the last quarter. Finally, Diligent Investors LLC raised its holdings in shares of United Parcel Service by 1.7% in the 4th quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock worth $848,000 after purchasing an additional 111 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

UPS stock opened at $86.65 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $73.38 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.58 and a beta of 1.12. United Parcel Service, Inc. has a 12 month low of $84.28 and a 12 month high of $145.01. The firm has a 50 day moving average of $98.23 and a two-hundred day moving average of $104.44.

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

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be issued 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 of this dividend is Monday, August 18th. United Parcel Service's dividend payout ratio is currently 97.62%.

Insider Buying and Selling at United Parcel Service

In other news, 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 acquired at an average cost of $86.50 per share, with a total value of $432,500.00. Following the acquisition, the director owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carol B. Tome acquired 11,682 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the acquisition, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UPS has been the topic of a number of research reports. BNP Paribas Exane upgraded shares of United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a report on Thursday, July 3rd. BNP Paribas upgraded shares of United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Stifel Nicolaus dropped their target price on shares of United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. TD Cowen dropped their target price on shares of United Parcel Service from $117.00 to $107.00 in a report on Wednesday, April 30th. Finally, Bernstein Bank boosted their price target on shares of United Parcel Service from $132.00 to $133.00 in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.81.

United Parcel Service Company 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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