Prudential PLC Trims Holdings in United Parcel Service, Inc. $UPS

Key Points

• Prudential PLC significantly reduced its stake in United Parcel Service, Inc. (UPS) by 64.3% in the first quarter, owning 10,514 shares worth approximately $1.16 million after selling 18,926 shares.
• CEO Carol B. Tome made a notable purchase of 11,682 shares at $85.67 each, amplifying her ownership by 89.61%.
• Wall Street analysts have lowered their price targets for UPS, with consensus ratings indicating a generally "Hold" stance, amid expectations of a 7.95 EPS for the year.

Prudential PLC trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 64.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,514 shares of the transportation company's stock after selling 18,926 shares during the period. Prudential PLC's holdings in United Parcel Service were worth $1,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of UPS. Colonial Trust Co SC grew its holdings in United Parcel Service by 1.4% during the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock worth $911,000 after purchasing an additional 98 shares during the period. Juncture Wealth Strategies LLC lifted its position in shares of United Parcel Service by 2.5% during the 1st quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock valued at $454,000 after acquiring an additional 101 shares during the period. TCV Trust & Wealth Management Inc. grew its stake in United Parcel Service by 1.4% during the first 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 in the last quarter. Diligent Investors LLC increased its stake in United Parcel Service by 1.7% in the fourth quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock valued at $848,000 after acquiring an additional 111 shares during the last quarter. Finally, Lodestone Wealth Management LLC raised its holdings in shares of United Parcel Service by 6.2% during the 1st quarter. Lodestone Wealth Management LLC now owns 1,895 shares of the transportation company's stock worth $208,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

Analyst Ratings Changes

UPS has been the subject of a number of recent research reports. TD Cowen lowered their target price on United Parcel Service from $117.00 to $107.00 in a report on Wednesday, April 30th. BMO Capital Markets dropped their price objective on shares of United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Morgan Stanley reduced 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 report on Wednesday, July 30th. Hsbc Global Res downgraded shares of United Parcel Service from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Vertical Research reiterated a "hold" rating and set a $103.00 price target on shares of United Parcel Service in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $112.81.

United Parcel Service Stock Up 1.1%

United Parcel Service stock traded up $0.9830 during mid-day trading on Tuesday, reaching $87.4930. The stock had a trading volume of 3,469,097 shares, compared to its average volume of 6,434,385. 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 $84.28 and a fifty-two week high of $145.01. The firm has a market capitalization of $74.16 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. The stock's 50-day simple moving average is $96.98 and its 200-day simple moving average is $102.54.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 earnings per share. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a dividend of $1.64 per share. The ex-dividend date is Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.5%. United Parcel Service's dividend payout ratio is currently 97.62%.

Insider Activity at United Parcel Service

In related news, Director William R. Johnson acquired 5,000 shares of the stock in a transaction on Thursday, July 31st. The stock was 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 owned 10,160 shares of the company's stock, valued at $878,840. This trade represents a 96.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.13% of the company's stock.

United Parcel Service Company 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.