Forsta AP Fonden Sells 3,500 Shares of United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Forsta AP Fonden reduced its stake in United Parcel Service, Inc. (UPS) by 2.1%, selling 3,500 shares, and now owns 162,000 shares valued at approximately $17.8 million.
• Multiple analysts have recently lowered their price targets for UPS, with the average target currently sitting at $112.81, and ratings ranging from sell to strong buy.
• UPS announced a quarterly dividend of $1.64 per share, payable on September 4th, which leads to an annualized yield of 7.6% for shareholders.

Forsta AP Fonden trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,000 shares of the transportation company's stock after selling 3,500 shares during the period. Forsta AP Fonden's holdings in United Parcel Service were worth $17,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Gallacher Capital Management LLC bought a new position in shares of United Parcel Service during the 1st quarter valued at about $620,000. Garde Capital Inc. purchased a new stake in shares of United Parcel Service in the first quarter worth about $37,000. Golden State Wealth Management LLC lifted its position in shares of United Parcel Service by 61.3% in the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock worth $173,000 after buying an additional 599 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of United Parcel Service by 5.9% in the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock worth $381,000 after buying an additional 193 shares in the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of United Parcel Service in the first quarter worth about $437,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Trading Up 1.3%

UPS stock traded up $1.10 during mid-day trading on Tuesday, reaching $87.41. The company had a trading volume of 3,556,630 shares, compared to its average volume of 6,306,841. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $74.02 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The firm has a 50 day moving average of $98.02 and a 200 day moving average of $103.91. United Parcel Service, Inc. has a 12 month low of $84.28 and a 12 month high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The company had revenue of $21.20 billion during 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 revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 earnings per share. On average, equities analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

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

Insider Transactions at United Parcel Service

In related news, Director William R. Johnson bought 5,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carol B. Tome bought 11,682 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $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 owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen decreased their target price on United Parcel Service from $117.00 to $107.00 in a research report on Wednesday, April 30th. Vertical Research reiterated a "hold" rating and issued a $103.00 target price on shares of United Parcel Service in a research report on Wednesday, July 30th. UBS Group decreased 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. Jefferies Financial Group decreased their target price on United Parcel Service from $150.00 to $130.00 in a research report on Wednesday, April 30th. Finally, Daiwa America decreased their target price on United Parcel Service from $120.00 to $103.00 in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $112.81.

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.