DAVENPORT & Co LLC Sells 15,343 Shares of United Parcel Service, Inc. $UPS

Key Points

• DAVENPORT & Co LLC has reduced its stake in United Parcel Service, Inc. (UPS) by 1.6%, now owning 948,219 shares valued at approximately $95.77 million.
• CEO Carol B. Tome recently purchased 11,682 shares of UPS stock, significantly increasing her ownership by 89.61% and bringing her total stake to approximately $2.12 million.
• Analysts have lowered their price targets on UPS, with Bank of America setting a target of $81.00 and Oppenheimer adjusting theirs to $100.00, reflecting a mixed sentiment on the company's stock outlook.

DAVENPORT & Co LLC reduced its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 948,219 shares of the transportation company's stock after selling 15,343 shares during the period. DAVENPORT & Co LLC owned 0.11% of United Parcel Service worth $95,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bangor Savings Bank increased its holdings in shares of United Parcel Service by 1.9% during the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock valued at $546,000 after acquiring an additional 101 shares in the last quarter. First Dallas Securities Inc. increased its stake in United Parcel Service by 0.9% during the 1st quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company's stock valued at $1,256,000 after purchasing an additional 102 shares in the last quarter. TCV Trust & Wealth Management Inc. increased its stake in United Parcel Service by 1.4% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock valued at $830,000 after purchasing an additional 103 shares in the last quarter. Fortis Capital Advisors LLC raised its holdings in United Parcel Service by 3.4% during the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company's stock worth $350,000 after buying an additional 104 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its stake in shares of United Parcel Service by 1.3% in the second quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company's stock valued at $793,000 after buying an additional 104 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Insider Transactions at United Parcel Service

In other news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction on Friday, August 1st. The stock was acquired 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 approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Johnson bought 5,000 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the transaction, the director directly owned 10,160 shares of the company's stock, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 17,182 shares of company stock worth $1,477,382 in the last quarter. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America decreased their target price on shares of United Parcel Service from $83.00 to $81.00 and set an "underperform" rating for the company in a research report on Friday, September 26th. Truist Financial decreased their price objective on United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Evercore ISI dropped their target price on United Parcel Service from $103.00 to $97.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of United Parcel Service in a research report on Saturday, September 27th. Finally, Oppenheimer lowered their price target on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $110.16.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $86.79 on Monday. The business's fifty day simple moving average is $86.20 and its 200 day simple moving average is $95.17. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $145.01. The firm has a market capitalization of $73.56 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its earnings results 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 business had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 earnings per share. As a group, analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were given 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 of this dividend was Monday, August 18th. United Parcel Service's dividend payout ratio 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.

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