Korea Investment CORP Sells 211,856 Shares of United Parcel Service, Inc. $UPS

Key Points

• Korea Investment CORP reduced its holdings in United Parcel Service (UPS) by 41.7%, selling 211,856 shares, and now holds 296,340 shares worth approximately $32.6 million.
• Research analysts have decreased their target price for UPS, with notable cuts from Wells Fargo (from $98 to $91) and Galvan Research (from $126 to $124), reflecting a shift in sentiment towards the stock.
• UPS recently declared a quarterly dividend of $1.64 per share, providing a dividend yield of 7.5%, with the ex-dividend date set for August 18th.

Korea Investment CORP trimmed its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 41.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,340 shares of the transportation company's stock after selling 211,856 shares during the quarter. Korea Investment CORP's holdings in United Parcel Service were worth $32,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UPS. Cladis Investment Advisory LLC lifted its holdings in shares of United Parcel Service by 30.8% in the 1st quarter. Cladis Investment Advisory LLC now owns 15,716 shares of the transportation company's stock worth $1,729,000 after acquiring an additional 3,701 shares during the last quarter. Watts Gwilliam & Co. LLC grew its holdings in United Parcel Service by 58.8% during the 1st quarter. Watts Gwilliam & Co. LLC now owns 11,540 shares of the transportation company's stock valued at $1,269,000 after purchasing an additional 4,271 shares during the last quarter. Northern Trust Corp raised its position in United Parcel Service by 0.3% in the 1st quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock worth $815,633,000 after purchasing an additional 23,918 shares during the period. Brooklyn Investment Group raised its position in United Parcel Service by 17.9% in the 1st quarter. Brooklyn Investment Group now owns 1,626 shares of the transportation company's stock worth $179,000 after purchasing an additional 247 shares during the period. Finally, Versor Investments LP bought a new stake in United Parcel Service in the first quarter worth about $344,000. Institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UPS shares. Galvan Research cut their target price on United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Wall Street Zen cut United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company cut their price objective on United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group reduced their target price on United Parcel Service from $150.00 to $130.00 in a research note on Wednesday, April 30th. Finally, Vertical Research reiterated a "hold" rating and set a $103.00 target price on shares of United Parcel Service in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $112.81.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $87.7170 on Wednesday. The company has a market cap of $74.35 billion, a PE ratio of 13.05, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. The business has a 50-day simple moving average of $96.69 and a two-hundred day simple moving average of $102.44. United Parcel Service, Inc. has a fifty-two week low of $84.28 and a fifty-two week high of $145.01.

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 analysts' consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same quarter last year, the business earned $1.79 earnings per share. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

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

Insider Transactions at United Parcel Service

In other United Parcel Service news, CEO Carol B. Tome purchased 11,682 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Johnson acquired 5,000 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.

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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