RNC Capital Management LLC Increases Stock Holdings in United Parcel Service, Inc. $UPS

RNC Capital Management LLC lifted its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,485 shares of the transportation company's stock after purchasing an additional 79,815 shares during the quarter. United Parcel Service comprises 2.2% of RNC Capital Management LLC's investment portfolio, making the stock its 18th biggest holding. RNC Capital Management LLC owned approximately 0.05% of United Parcel Service worth $45,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in United Parcel Service by 1.5% in the first quarter. Vanguard Group Inc. now owns 66,136,226 shares of the transportation company's stock worth $7,274,323,000 after acquiring an additional 999,832 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Parcel Service by 7.7% in 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 acquiring an additional 1,780,807 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in United Parcel Service by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after acquiring an additional 4,988,044 shares in the last quarter. Northern Trust Corp boosted its holdings in United Parcel Service by 0.3% in the first quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock worth $815,633,000 after acquiring an additional 23,918 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in United Parcel Service by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,719,145 shares of the transportation company's stock worth $519,059,000 after acquiring an additional 171,303 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of UPS opened at $86.93 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The business has a 50-day simple moving average of $85.58 and a two-hundred day simple moving average of $93.26. The stock has a market cap of $73.68 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.63 and a beta of 1.10. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The company had revenue of $21.20 billion during 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 business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.79 EPS. On average, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.5%. United Parcel Service's dividend payout ratio is presently 97.62%.

Insiders Place Their Bets

In other United Parcel Service news, Director William R. Johnson bought 5,000 shares of the business's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carol B. Tome bought 11,682 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. This represents a 89.61% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 17,182 shares of company stock worth $1,477,382 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UPS has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Wells Fargo & Company lowered their price target on United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. Galvan Research lowered their price target on United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a report on Monday, June 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of United Parcel Service in a report on Wednesday, October 8th. Finally, BNP Paribas raised United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, United Parcel Service presently has a consensus rating of "Hold" and a consensus target price of $109.31.

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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