Cullinan Associates Inc. Trims Stock Holdings in United Parcel Service, Inc. $UPS

Key Points

• Cullinan Associates Inc. reduced its holdings in United Parcel Service, Inc. by 7.2% during the 2nd quarter, now owning 72,382 shares valued at approximately $7.3 million.
• Several institutional investors, including Valeo Financial Advisors and Beacon Financial Advisory, increased their positions in UPS, indicating ongoing interest from the market.
• United Parcel Service announced a quarterly dividend of $1.64 per share, with a yield of 7.6%, despite a 2.7% year-over-year revenue decline.

Cullinan Associates Inc. cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,382 shares of the transportation company's stock after selling 5,637 shares during the quarter. Cullinan Associates Inc.'s holdings in United Parcel Service were worth $7,306,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its position in shares of United Parcel Service by 7.7% during the second quarter. Valeo Financial Advisors LLC now owns 26,071 shares of the transportation company's stock worth $2,632,000 after buying an additional 1,856 shares in the last quarter. Joule Financial LLC boosted its stake in United Parcel Service by 5.1% during the 2nd quarter. Joule Financial LLC now owns 2,533 shares of the transportation company's stock valued at $256,000 after acquiring an additional 124 shares during the last quarter. Keudell Morrison Wealth Management grew its holdings in United Parcel Service by 18.6% during the 2nd quarter. Keudell Morrison Wealth Management now owns 5,863 shares of the transportation company's stock worth $592,000 after acquiring an additional 921 shares in the last quarter. Measured Risk Portfolios Inc. increased its position in shares of United Parcel Service by 16.1% in the 2nd quarter. Measured Risk Portfolios Inc. now owns 22,800 shares of the transportation company's stock worth $2,301,000 after purchasing an additional 3,162 shares during the last quarter. Finally, Beacon Financial Advisory LLC raised its stake in shares of United Parcel Service by 20.3% in the 2nd quarter. Beacon Financial Advisory LLC now owns 13,319 shares of the transportation company's stock valued at $1,344,000 after purchasing an additional 2,248 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI lowered their price objective on United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Citigroup lowered their price target on United Parcel Service from $127.00 to $114.00 and set a "buy" rating for the company in a report on Thursday, July 31st. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a research note on Thursday, July 3rd. Wolfe Research decreased their price objective on shares of United Parcel Service from $113.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, July 1st. Finally, Wall Street Zen cut shares of United Parcel Service from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $110.16.

Insider Transactions at United Parcel Service

In other United Parcel Service news, CEO Carol B. Tome purchased 11,682 shares of the company's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christiana Smith Shi acquired 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, with a total value of $44,085.00. Following the transaction, the director owned 500 shares in the company, valued at approximately $44,085. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,182 shares of company stock valued at $1,477,382. Corporate insiders own 0.13% of the company's stock.

United Parcel Service Stock Up 1.4%

UPS stock opened at $86.79 on Monday. The stock has a market cap of $73.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The firm's 50-day simple moving average is $86.20 and its 200 day simple moving average is $95.17. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.01. 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 posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) 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 firm 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 earned $1.79 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is currently 97.62%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.