Rafferty Asset Management LLC Sells 20,236 Shares of United Parcel Service, Inc. $UPS

Key Points

• Rafferty Asset Management LLC sold 20,236 shares of United Parcel Service, reducing its position by 24.7%, leaving it with 61,631 shares valued at approximately $6.78 million.
• United Parcel Service recently reported a quarterly earnings per share of $1.55, missing the estimate of $1.56, with revenues of $21.20 billion, slightly above the expected $20.90 billion.
• The company announced a quarterly dividend of $1.64 per share, reflecting a dividend yield of 7.5%, resulting in a hefty payout ratio of 97.62%.

Rafferty Asset Management LLC decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 24.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,631 shares of the transportation company's stock after selling 20,236 shares during the quarter. Rafferty Asset Management LLC's holdings in United Parcel Service were worth $6,779,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Epoch Investment Partners Inc. increased its position in United Parcel Service by 4.6% during the 1st quarter. Epoch Investment Partners Inc. now owns 592,031 shares of the transportation company's stock worth $65,117,000 after buying an additional 26,079 shares during the period. Harvest Portfolios Group Inc. grew its stake in shares of United Parcel Service by 23.7% in the first quarter. Harvest Portfolios Group Inc. now owns 15,881 shares of the transportation company's stock valued at $1,747,000 after acquiring an additional 3,047 shares in the last quarter. Potomac Fund Management Inc. ADV increased its position in United Parcel Service by 11.8% during the first quarter. Potomac Fund Management Inc. ADV now owns 10,585 shares of the transportation company's stock worth $1,164,000 after acquiring an additional 1,114 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in United Parcel Service in the 1st quarter worth about $590,000. Finally, Brooks Moore & Associates Inc. boosted its holdings in United Parcel Service by 0.9% in the 1st quarter. Brooks Moore & Associates Inc. now owns 31,305 shares of the transportation company's stock valued at $3,443,000 after purchasing an additional 265 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

NYSE:UPS opened at $87.25 on Friday. The stock's 50-day simple moving average is $94.91 and its 200 day simple moving average is $101.29. The firm has a market capitalization of $73.95 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.61 and a beta of 1.12. 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, Inc. has a twelve month low of $84.28 and a twelve month high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data 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 business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.79 earnings per share. On average, analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of United Parcel Service from $124.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Barclays lowered their price objective on United Parcel Service from $90.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Oppenheimer reduced their target price on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Galvan Research reduced their price objective on United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of "Hold" and a consensus price target of $112.81.

Insider Buying and Selling at United Parcel Service

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

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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