Mechanics Bank Trust Department Has $764,000 Stake in United Parcel Service, Inc. $UPS

Key Points

• Mechanics Bank Trust Department reduced its stake in United Parcel Service (UPS) by 40.7%, holding 7,565 shares valued at $764,000 at the end of the last quarter.
• Analysts lowered the target prices for UPS, with estimates ranging from $75.00 to $120.00, with an average rating of "Hold".
• UPS reported earnings of $1.55 EPS for the last quarter, missing consensus expectations slightly while revenue was $21.20 billion, exceeding forecasts.

Mechanics Bank Trust Department lowered its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 40.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,565 shares of the transportation company's stock after selling 5,192 shares during the quarter. Mechanics Bank Trust Department's holdings in United Parcel Service were worth $764,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock valued at $1,529,000 after purchasing an additional 4,723 shares during the last quarter. Forum Financial Management LP boosted its position in shares of United Parcel Service by 40.5% during the fourth quarter. Forum Financial Management LP now owns 4,242 shares of the transportation company's stock valued at $535,000 after buying an additional 1,223 shares during the last quarter. Mackenzie Financial Corp grew its holdings in United Parcel Service by 7.9% during the fourth quarter. Mackenzie Financial Corp now owns 67,015 shares of the transportation company's stock worth $8,451,000 after buying an additional 4,935 shares in the last quarter. Putney Financial Group LLC bought a new stake in United Parcel Service during the fourth quarter worth $56,000. Finally, Ameriflex Group Inc. bought a new position in United Parcel Service during the 4th quarter valued at $172,000. Institutional investors and hedge funds own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Susquehanna reduced their target price on shares of United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. reduced their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Morgan Stanley dropped their target price on shares of United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Truist Financial cut their target price 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. Finally, Oppenheimer decreased 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 analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $111.44.

United Parcel Service Trading Up 0.4%

United Parcel Service stock opened at $84.43 on Tuesday. 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 fifty-two week low of $82.00 and a fifty-two week high of $145.01. The stock has a market cap of $71.56 billion, a P/E ratio of 12.56, a PEG ratio of 1.55 and a beta of 1.08. The firm's fifty day moving average price is $89.16 and its 200-day moving average price is $97.24.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate 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 business had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. United Parcel Service's quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. United Parcel Service's dividend payout ratio is presently 97.62%.

Insider Activity

In other news, CEO Carol B. Tome purchased 11,682 shares of the stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer directly owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the transaction, 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. In the last quarter, insiders have purchased 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is currently owned by corporate insiders.

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.

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