Sky Investment Group LLC Cuts Stock Position in United Parcel Service, Inc. $UPS

Key Points

• Sky Investment Group LLC lowered its stake in United Parcel Service, Inc. (UPS) by 9.2% after selling 2,989 shares during the second quarter, bringing its total holdings to 29,565 shares worth approximately $2.98 million.
• United Parcel Service reported a Q2 EPS of $1.55, missing estimates by $0.01, while revenue of $21.20 billion exceeded predictions, but was down 2.7% year-over-year.
• The company recently declared a quarterly dividend of $1.64, which translates to an annual yield of 7.7%, and has a dividend payout ratio of 97.62%.

Sky Investment Group LLC reduced its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,565 shares of the transportation company's stock after selling 2,989 shares during the quarter. Sky Investment Group LLC's holdings in United Parcel Service were worth $2,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Graybill Wealth Management LTD. acquired a new position in shares of United Parcel Service during the first quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of United Parcel Service during the fourth quarter worth approximately $27,000. Citizens National Bank Trust Department lifted its holdings in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after buying an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of United Parcel Service during the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management increased its position in shares of United Parcel Service by 68.9% during the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock valued at $31,000 after purchasing an additional 115 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Price Performance

Shares of United Parcel Service stock traded up $0.04 during trading on Monday, reaching $84.10. 5,646,764 shares of the company's stock were exchanged, compared to its average volume of 6,680,592. 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 1-year low of $82.00 and a 1-year high of $145.01. The company has a market cap of $71.28 billion, a P/E ratio of 12.48, a PEG ratio of 1.55 and a beta of 1.08. The firm's 50-day moving average price is $89.48 and its 200 day moving average price is $97.50.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same period in the previous year, the company earned $1.79 EPS. United Parcel Service's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

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

Insiders Place Their Bets

In other news, Director William R. Johnson purchased 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the acquisition, the director owned 10,160 shares in the company, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christiana Smith Shi bought 500 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the acquisition, the director directly owned 500 shares of the company's stock, valued at approximately $44,085. This represents a ∞ increase in their ownership of the stock. 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. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on UPS shares. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Wolfe Research lowered their price objective on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. Stifel Nicolaus lowered their price objective on United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley lowered their price objective on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Finally, BNP Paribas Exane upgraded 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.44.

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.