New York State Teachers Retirement System Buys 7,759 Shares of United Parcel Service, Inc. $UPS

Key Points

• The New York State Teachers Retirement System increased its stake in United Parcel Service (UPS) by 1.2%, acquiring an additional 7,759 shares, bringing its total holdings to 631,863 shares valued at approximately $63.78 million.
• UPS recently reported $1.55 earnings per share for the quarter, slightly missing analysts' expectations, and its revenue was down 2.7% year-over-year at $21.20 billion.
• Company insiders purchased a total of 17,182 shares over the last three months, indicating confidence in UPS, while the current consensus rating for the stock is "Hold" with an average price target of $109.31.

New York State Teachers Retirement System increased its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,863 shares of the transportation company's stock after buying an additional 7,759 shares during the quarter. New York State Teachers Retirement System owned 0.07% of United Parcel Service worth $63,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of UPS. Brighton Jones LLC lifted its position in shares of United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock worth $1,529,000 after buying an additional 4,723 shares during the period. Ritholtz Wealth Management lifted its position in shares of United Parcel Service by 95.1% during the 1st quarter. Ritholtz Wealth Management now owns 4,531 shares of the transportation company's stock worth $498,000 after buying an additional 2,209 shares during the period. Inscription Capital LLC bought a new position in shares of United Parcel Service during the 1st quarter worth approximately $150,000. Robertson Stephens Wealth Management LLC lifted its position in shares of United Parcel Service by 4.8% during the 1st quarter. Robertson Stephens Wealth Management LLC now owns 5,671 shares of the transportation company's stock worth $624,000 after buying an additional 262 shares during the period. Finally, Clarius Group LLC raised its position in United Parcel Service by 6.4% in the 1st quarter. Clarius Group LLC now owns 2,748 shares of the transportation company's stock valued at $302,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 60.26% of the company's stock.

Insider Buying and Selling

In related news, CEO Carol B. Tome acquired 11,682 shares of the firm's stock in a transaction that occurred 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 purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christiana Smith Shi acquired 500 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the purchase, the director owned 500 shares of the company's stock, valued at $44,085. This trade represents a ∞ 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 valued at $1,477,382 over the last three months. Company insiders own 0.13% of the company's stock.

United Parcel Service Trading Up 1.9%

UPS stock opened at $85.66 on Friday. The company has a market cap of $72.60 billion, a P/E ratio of 12.75, a PEG ratio of 1.56 and a beta of 1.10. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average of $85.59 and a 200-day moving average of $93.73.

United Parcel Service (NYSE:UPS - Get Free Report) last released its earnings results 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). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter in the previous year, the firm earned $1.79 EPS. The company's revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.7%. United Parcel Service's payout ratio is 97.62%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup cut their price objective on United Parcel Service from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Monday. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a research report on Thursday, July 3rd. Wall Street Zen downgraded United Parcel Service from a "hold" rating to a "sell" rating in a research report on Saturday, September 20th. Stifel Nicolaus cut their price objective on United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Finally, Wolfe Research cut their price objective on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. 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 issued a Sell rating to the company. According to MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and an average price target of $109.31.

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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