Centric Wealth Management Sells 6,610 Shares of United Parcel Service, Inc. $UPS

Key Points

• Centric Wealth Management reduced its stake in United Parcel Service, Inc. by 1.9%, selling 6,610 shares, which now represents 9.8% of its investment portfolio valued at $37.7 million.
• UPS recently missed earnings expectations with $1.55 EPS, compared to a consensus estimate of $1.56, and reported a revenue of $21.20 billion for the quarter.
• The company announced a quarterly dividend of $1.64 per share, with a 7.5% yield, and saw insider buying, including CEO Carol B. Tome acquiring over $1 million worth of shares.

Centric Wealth Management lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342,530 shares of the transportation company's stock after selling 6,610 shares during the period. United Parcel Service makes up about 9.8% of Centric Wealth Management's portfolio, making the stock its biggest holding. Centric Wealth Management's holdings in United Parcel Service were worth $37,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in United Parcel Service during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in United Parcel Service in the 4th quarter worth about $28,000. Graybill Wealth Management LTD. acquired a new position in shares of United Parcel Service during the 1st quarter worth approximately $26,000. Citizens National Bank Trust Department boosted its holdings in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after purchasing an additional 210 shares during the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of United Parcel Service by 68.9% during the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock worth $31,000 after purchasing an additional 115 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christiana Smith Shi acquired 500 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director directly owned 500 shares of the company's stock, valued at approximately $44,085. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Johnson acquired 5,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 17,182 shares of company stock valued at $1,477,382 in the last ninety days. Company insiders own 0.13% of the company's stock.

United Parcel Service Trading Up 0.3%

UPS stock traded up $0.27 during midday trading on Monday, hitting $87.54. The stock had a trading volume of 6,834,049 shares, compared to its average volume of 8,057,620. The firm has a market cap of $74.20 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. United Parcel Service, Inc. has a 12-month low of $84.28 and a 12-month high of $145.01. The company's 50-day moving average price is $94.68 and its 200 day moving average price is $100.91.

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 analysts' expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm's revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.79 earnings per share. On average, equities research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.5%. United Parcel Service's payout ratio is currently 97.62%.

Analysts Set New Price Targets

A number of brokerages have issued reports on UPS. UBS Group cut their target price on United Parcel Service from $124.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Truist Financial decreased their price objective on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research note on Thursday, July 3rd. Argus lowered their price target on United Parcel Service from $150.00 to $120.00 in a report on Friday, May 23rd. Finally, Stifel Nicolaus lowered their price target on United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $112.81.

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.