OLD Point Trust & Financial Services N A Reduces Holdings in United Parcel Service, Inc. $UPS

Key Points

• OLD Point Trust & Financial Services N A reduced its stake in United Parcel Service, Inc. by 14.4%, holding 19,551 shares valued at approximately $1.97 million after selling 3,286 shares in Q2.
• Wall Street analysts have varied opinions on UPS, with target prices being adjusted, including a drop from $96 to $85 from JPMorgan Chase & Co., and an overall consensus rating of "Hold".
• Insider trading activity shows significant purchases by Director William R. Johnson and CEO Carol B. Tome, indicating confidence in the company's future.

OLD Point Trust & Financial Services N A cut its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,551 shares of the transportation company's stock after selling 3,286 shares during the quarter. OLD Point Trust & Financial Services N A's holdings in United Parcel Service were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of UPS. Cornerstone Wealth Group LLC lifted its holdings in United Parcel Service by 3.9% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company's stock worth $258,000 after buying an additional 97 shares during the period. Bangor Savings Bank lifted its holdings in United Parcel Service by 1.9% in the 2nd quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock worth $546,000 after buying an additional 101 shares during the period. First Dallas Securities Inc. lifted its holdings in United Parcel Service by 0.9% in the 1st quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company's stock worth $1,256,000 after buying an additional 102 shares during the period. TCV Trust & Wealth Management Inc. lifted its holdings in United Parcel Service by 1.4% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock worth $830,000 after buying an additional 103 shares during the period. Finally, Fortis Capital Advisors LLC lifted its holdings in United Parcel Service by 3.4% in the 1st quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company's stock worth $350,000 after buying an additional 104 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPS has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on United Parcel Service from $96.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. BNP Paribas upgraded United Parcel Service to a "hold" rating in a research note on Thursday, July 3rd. Oppenheimer lowered their target price on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Susquehanna lowered their target price on 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. Finally, Wall Street Zen cut United Parcel Service from a "hold" rating to a "sell" rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $109.31.

Insiders Place Their Bets

In related news, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares of the company's stock, valued at $878,840. The trade was a 96.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the purchase, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 17,182 shares of company stock valued at $1,477,382 over the last ninety days. 0.13% of the stock is owned by insiders.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $86.93 on Thursday. The stock's 50-day simple moving average is $85.58 and its 200-day simple moving average is $93.26. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01. The company has a market capitalization of $73.68 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion during 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 revenue was down 2.7% on a year-over-year basis. As a group, analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were 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 of this dividend was Monday, August 18th. United Parcel Service's payout ratio is presently 97.62%.

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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