Strait & Sound Wealth Management LLC Acquires New Position in United Parcel Service, Inc. $UPS

Key Points

• Strait & Sound Wealth Management LLC has invested approximately $646,000 in United Parcel Service, acquiring 5,874 shares during the first quarter.
• United Parcel Service reported $1.55 earnings per share for the most recent quarter, missing the consensus estimate of $1.56, while revenue was down 2.7% year-over-year.
• The company has declared a quarterly dividend of $1.64, reflecting an annualized dividend yield of 7.7% with a payout ratio of 97.62%.

Strait & Sound Wealth Management LLC purchased a new stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,874 shares of the transportation company's stock, valued at approximately $646,000.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of United Parcel Service by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after purchasing an additional 4,988,044 shares during the period. Pacer Advisors Inc. increased its position in United Parcel Service by 1,056.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock valued at $476,936,000 after buying an additional 3,961,255 shares in the last quarter. Nuveen LLC bought a new position in United Parcel Service in the first quarter worth approximately $201,358,000. 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. Finally, AQR Capital Management LLC grew its stake in United Parcel Service by 582.0% in 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 acquiring an additional 1,007,585 shares during the period. 60.26% of the stock is owned by institutional investors.

Insider Transactions at United Parcel Service

In other news, Director Christiana Smith Shi purchased 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the transaction, the director directly owned 500 shares of the company's stock, valued at approximately $44,085. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carol B. Tome purchased 11,682 shares of the firm's stock in a transaction dated 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 acquisition, the chief executive officer owned 24,718 shares of the company's stock, 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. Insiders purchased 17,182 shares of company stock valued at $1,477,382 over the last three months. Company insiders own 0.13% of the company's stock.

United Parcel Service Stock Performance

NYSE:UPS traded down $0.49 during trading on Wednesday, reaching $83.91. The company's stock had a trading volume of 6,663,812 shares, compared to its average volume of 6,588,796. United Parcel Service, Inc. has a 12 month low of $83.05 and a 12 month high of $145.01. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. The firm has a 50 day moving average of $92.44 and a 200-day moving average of $99.52. 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 (NYSE:UPS - Get Free Report) last posted 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 the consensus estimate of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.79 EPS. Research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. Stifel Nicolaus dropped their price target on shares of 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. BNP Paribas Exane raised United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a research note on Thursday, July 3rd. Argus dropped their target price on United Parcel Service from $150.00 to $120.00 in a report on Friday, May 23rd. Finally, Evercore ISI decreased their price target on United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $112.59.

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.