Summit Financial LLC Purchases 6,644 Shares of United Parcel Service, Inc. $UPS

Key Points

• Summit Financial LLC increased its stake in United Parcel Service, Inc. by 27.7% to 30,627 shares worth approximately $3.37 million after acquiring an additional 6,644 shares in the first quarter.
• United Parcel Service reported a quarterly earnings of $1.55 per share, missing analysts' estimates by $0.01, while its revenue was $21.20 billion, exceeding expectations of $20.90 billion.
• The company announced a quarterly dividend of $1.64 per share, representing a dividend yield of 7.6%, with a high dividend payout ratio of 97.62%.

Summit Financial LLC increased its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,627 shares of the transportation company's stock after purchasing an additional 6,644 shares during the quarter. Summit Financial LLC's holdings in United Parcel Service were worth $3,369,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Graybill Wealth Management LTD. bought a new position in United Parcel Service in the first quarter valued at $26,000. Pinney & Scofield Inc. bought a new position in United Parcel Service in the 4th quarter valued at about $27,000. Citizens National Bank Trust Department grew its holdings in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after purchasing an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of United Parcel Service in the 4th quarter valued at $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of United Parcel Service in the 4th quarter valued at $31,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Stock Down 0.9%

Shares of NYSE UPS opened at $86.1620 on Friday. 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 firm's fifty day moving average is $96.11 and its 200 day moving average is $102.16. The company has a market cap of $73.03 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.60 and a beta of 1.12. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01.

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

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a dividend of $1.64 per share. The ex-dividend date is Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UPS. Morgan Stanley cut their target price on shares of United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 30th. Bank of America reaffirmed a "neutral" rating and issued a $98.00 price objective on shares of United Parcel Service in a research note on Tuesday, July 29th. Galvan Research dropped their price objective on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Barclays dropped their price objective on shares of United Parcel Service from $90.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lowered their target price on shares of United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, United Parcel Service presently has a consensus rating of "Hold" and an average target price of $112.81.

Insiders Place Their Bets

In other news, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Johnson acquired 5,000 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the acquisition, the director directly owned 10,160 shares of the company's stock, valued at $878,840. This represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

United Parcel Service Company 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.

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