Park Avenue Securities LLC Increases Position in United Parcel Service, Inc. $UPS

Key Points

• Park Avenue Securities LLC significantly increased its position in United Parcel Service, Inc. by 90.2% during the second quarter, now owning 37,806 shares valued at approximately $3.8 million.
• Several analysts adjusted their price targets for UPS, with Citigroup lowering its target from $127 to $114, and BMO Capital Markets reducing theirs from $125 to $96, while the stock's average rating remains at "Hold."
• The company recently announced a quarterly dividend of $1.64, yielding 7.8%, with a high dividend payout ratio of 97.62% reflecting its substantial return to shareholders.

Park Avenue Securities LLC lifted its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 90.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,806 shares of the transportation company's stock after purchasing an additional 17,928 shares during the period. Park Avenue Securities LLC's holdings in United Parcel Service were worth $3,816,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Graybill Wealth Management LTD. purchased a new stake in shares of United Parcel Service during the first quarter worth about $26,000. Citizens National Bank Trust Department boosted its holdings in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after purchasing an additional 210 shares during the period. Hemington Wealth Management boosted its holdings in shares of United Parcel Service by 68.9% during the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock worth $31,000 after purchasing an additional 115 shares during the period. Saudi Central Bank bought a new position in United Parcel Service in the first quarter worth about $32,000. Finally, Flaharty Asset Management LLC bought a new position in United Parcel Service in the first quarter worth about $33,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of United Parcel Service from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus decreased their price target on shares of United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. BMO Capital Markets reissued a "market perform" rating and issued a $96.00 price target (down from $125.00) on shares of United Parcel Service in a research note on Friday. Wells Fargo & Company decreased their price target on shares of United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. Finally, Bank of America reissued an "underperform" rating and issued a $83.00 price target (down from $91.00) on shares of United Parcel Service in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, United Parcel Service currently has an average rating of "Hold" and an average price target of $111.44.

Insider Buying and Selling

In other United Parcel Service news, Director Christiana Smith Shi purchased 500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the purchase, the director directly owned 500 shares of the company's stock, valued at $44,085. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carol B. Tome purchased 11,682 shares of the company's stock in a transaction dated 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 purchase, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $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. Over the last quarter, insiders have purchased 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by insiders.

United Parcel Service Trading Up 0.4%

Shares of UPS stock opened at $84.43 on Tuesday. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $145.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The firm's 50 day moving average is $89.16 and its 200 day moving average is $97.24. The stock has a market capitalization of $71.56 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.55 and a beta of 1.08.

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

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.8%. United Parcel Service's dividend payout ratio (DPR) is currently 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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