Sumitomo Mitsui Trust Group Inc. Purchases 103,422 Shares of United Parcel Service, Inc. $UPS

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in United Parcel Service (UPS) by 5.8% during the second quarter, acquiring an additional 103,422 shares to total 1,879,372 shares valued at approximately $189.7 million.
• CEO Carol B. Tome purchased 11,682 shares of UPS for about $1 million, marking an 89.61% increase in her ownership stake, while other insiders collectively bought 17,182 shares valued at approximately $1.48 million in the past ninety days.
• Analysts have varied price targets for UPS, with Morgan Stanley reducing its target from $80 to $75 and UBS setting a new buy rating with a target of $110, while the average target price is currently $109.31.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,879,372 shares of the transportation company's stock after purchasing an additional 103,422 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of United Parcel Service worth $189,704,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UPS. Graybill Wealth Management LTD. acquired a new stake in United Parcel Service during the 1st quarter valued at $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of United Parcel Service during the second quarter worth $26,000. 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 in the last quarter. Hemington Wealth Management lifted its holdings 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 worth $31,000 after buying an additional 115 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of United Parcel Service during the first quarter worth $32,000. Institutional investors and hedge funds own 60.26% of the company's stock.

Insiders Place Their Bets

In related news, CEO Carol B. Tome bought 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the acquisition, the chief executive officer directly owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christiana Smith Shi bought 500 shares of United Parcel Service stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 500 shares of the company's stock, valued at $44,085. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock valued at $1,477,382 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UPS shares. Morgan Stanley dropped their target price on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. UBS Group dropped their target price on United Parcel Service from $118.00 to $110.00 and set a "buy" rating for the company in a report on Friday, October 3rd. Stifel Nicolaus dropped their target price on United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Wall Street Zen downgraded United Parcel Service from a "hold" rating to a "sell" rating in a research note on Saturday, September 20th. Finally, Wolfe Research dropped their price target on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, United Parcel Service currently has a consensus rating of "Hold" and an average target price of $109.31.

United Parcel Service Stock Performance

United Parcel Service stock opened at $87.21 on Friday. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $140.33. 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's 50-day moving average price is $85.52 and its two-hundred day moving average price is $93.17. The stock has a market cap of $73.91 billion, a PE ratio of 12.98, a P/E/G ratio of 1.61 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter last year, the firm posted $1.79 earnings per share. The business's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

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

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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