PNC Financial Services Group Inc. Decreases Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• PNC Financial Services Group Inc. has reduced its stake in United Parcel Service, Inc. by 1.5%, now owning 1,164,743 shares worth approximately $128 million.
• Several analysts have lowered their price targets for UPS, with a consensus rating of "Hold" and a target price of $112.81.
• UPS’s recent quarterly earnings missed expectations, reporting $1.55 EPS against a consensus estimate of $1.56 EPS, despite achieving revenue of $21.20 billion.

PNC Financial Services Group Inc. reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,164,743 shares of the transportation company's stock after selling 17,756 shares during the quarter. PNC Financial Services Group Inc. owned 0.14% of United Parcel Service worth $128,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Gallacher Capital Management LLC acquired a new stake in shares of United Parcel Service in the 1st quarter worth approximately $620,000. Garde Capital Inc. purchased a new stake in United Parcel Service during the first quarter worth $37,000. Golden State Wealth Management LLC grew its holdings in United Parcel Service by 61.3% in the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock valued at $173,000 after purchasing an additional 599 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of United Parcel Service by 5.9% in the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock valued at $381,000 after buying an additional 193 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in shares of United Parcel Service in the first quarter valued at $437,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. DA Davidson decreased their price objective on shares of United Parcel Service from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Argus reduced their price target on shares of United Parcel Service from $150.00 to $120.00 in a report on Friday, May 23rd. Oppenheimer dropped their price objective on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday. Raymond James Financial reduced their target price on United Parcel Service from $145.00 to $130.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and a consensus target price of $112.81.

United Parcel Service Stock Performance

United Parcel Service stock opened at $84.54 on Friday. The company has a market cap of $71.59 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12. United Parcel Service, Inc. has a 12 month low of $84.28 and a 12 month high of $145.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.09. The stock's 50-day moving average is $99.32 and its 200-day moving average is $105.99.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly 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). The business had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.79 EPS. Equities analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service's dividend payout ratio (DPR) is currently 97.62%.

Insiders Place Their Bets

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

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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