Greatmark Investment Partners Inc. Trims Stock Position in United Parcel Service, Inc. $UPS

Key Points

• Greatmark Investment Partners Inc. reduced its stake in United Parcel Service, Inc. by 5.0%, holding 107,523 shares worth approximately $10.85 million, making it the 25th largest holding in their portfolio.
• In Q1, several hedge funds significantly increased their positions in UPS, with Goldman Sachs raising its holdings by 124%, now owning over 9 million shares.
• Despite reporting a quarterly earnings miss of $1.55 per share against expectations of $1.56, UPS had revenue of $21.20 billion, surpassing estimates, but showed a 2.7% decline compared to the previous year.

Greatmark Investment Partners Inc. reduced its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,523 shares of the transportation company's stock after selling 5,718 shares during the period. United Parcel Service comprises about 1.4% of Greatmark Investment Partners Inc.'s portfolio, making the stock its 25th biggest holding. Greatmark Investment Partners Inc.'s holdings in United Parcel Service were worth $10,853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UPS. Goldman Sachs Group Inc. raised its holdings in shares of United Parcel Service by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after acquiring an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of United Parcel Service by 1,056.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after purchasing an additional 3,961,255 shares in the last quarter. Nuveen LLC acquired a new position in United Parcel Service in the 1st quarter valued at $201,358,000. Charles Schwab Investment Management Inc. lifted its holdings in United Parcel Service by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in United Parcel Service by 443.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company's stock worth $156,453,000 after purchasing an additional 1,264,842 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Performance

Shares of UPS opened at $88.07 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01. The stock has a market capitalization of $74.64 billion, a PE ratio of 13.11, a PEG ratio of 1.61 and a beta of 1.10. The stock has a 50-day simple moving average of $85.61 and a 200-day simple moving average of $93.30.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. United Parcel Service's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 earnings per share. On average, 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 firm also recently declared 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. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.4%. United Parcel Service's dividend payout ratio is currently 97.62%.

Insider Transactions at United Parcel Service

In related news, Director Christiana Smith Shi purchased 500 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at $44,085. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Johnson bought 5,000 shares of the stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $86.50 per share, for a total transaction 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. The trade was a 96.90% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 17,182 shares of company stock worth $1,477,382. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UPS. UBS Group reduced their target price on shares of United Parcel Service from $118.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, October 3rd. Truist Financial lowered their price objective on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. BNP Paribas raised United Parcel Service to a "hold" rating in a research note on Thursday, July 3rd. Wolfe Research reduced their price target on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $96.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $109.31.

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.

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