RNC Capital Management LLC Purchases 63,140 Shares of United Parcel Service, Inc. $UPS

Key Points

• RNC Capital Management LLC increased its holdings in United Parcel Service (UPS) by 20.7% in the first quarter, owning a total of 368,670 shares valued at approximately $40.55 million.
• Other institutional investors significantly boosted their investments in UPS, including Goldman Sachs, which grew its position by 124.0%, now holding shares worth around $991 million.
• UPS reported quarterly earnings of $1.55 EPS, slightly missing analyst estimates, while also announcing a dividend of $1.64 per share, yielding approximately 7.7% annually.

RNC Capital Management LLC boosted its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 368,670 shares of the transportation company's stock after acquiring an additional 63,140 shares during the quarter. United Parcel Service comprises about 2.1% of RNC Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. RNC Capital Management LLC's holdings in United Parcel Service were worth $40,550,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in shares of United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after acquiring an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of United Parcel Service by 1,056.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after purchasing an additional 3,961,255 shares during the period. Nuveen LLC acquired a new stake in shares of United Parcel Service during the first quarter worth $201,358,000. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock worth $2,754,751,000 after purchasing an additional 1,780,807 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of United Parcel Service by 582.0% during the first quarter. AQR Capital Management LLC now owns 1,180,709 shares of the transportation company's stock valued at $128,886,000 after purchasing an additional 1,007,585 shares during the last quarter. Institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Down 0.6%

Shares of NYSE:UPS traded down $0.49 during trading on Wednesday, reaching $83.91. 6,663,812 shares of the company traded hands, compared to its average volume of 8,203,427. The firm has a fifty day simple moving average of $92.44 and a 200 day simple moving average of $99.52. 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 1-year low of $83.05 and a 1-year high of $145.01. The firm has a market cap of $71.12 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data 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). 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%.United Parcel Service's revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 earnings per share. Analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.8%. United Parcel Service's payout ratio is presently 97.62%.

Wall Street Analyst Weigh In

Several research firms have issued reports on UPS. Citigroup cut their price objective on United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. Morgan Stanley reduced their price target on shares of United Parcel Service from $80.00 to $75.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. BNP Paribas Exane upgraded shares of United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a research report on Thursday, July 3rd. Bank of America cut their target price on shares of United Parcel Service from $98.00 to $91.00 and set a "buy" rating on the stock in a research note on Tuesday, September 2nd. Finally, Wall Street Zen raised United Parcel Service from a "sell" rating to a "hold" rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $112.59.

Insider Buying and Selling

In other United Parcel Service news, Director Christiana Smith Shi acquired 500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the completion of the transaction, the director owned 500 shares in the company, valued at $44,085. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carol B. Tome purchased 11,682 shares of the business'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 acquisition, the chief executive officer directly owned 24,718 shares in the company, valued at $2,117,591.06. This represents a 89.61% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 17,182 shares of company stock worth $1,477,382. 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.