United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. reduced its holdings in United Parcel Service, Inc. (UPS) by 28.8%, resulting in ownership of 50,558 shares valued at approximately $5.56 million.
• UPS recently reported earnings of $1.49 per share for the quarter, exceeding expectations, with total revenue of $21.50 billion, although down 0.9% year-over-year.
• A quarterly dividend of $1.64 per share was paid on June 5th, representing a annualized yield of 6.33% and a payout ratio of 95.63%.

Pinnacle Associates Ltd. decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 28.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,558 shares of the transportation company's stock after selling 20,420 shares during the period. Pinnacle Associates Ltd.'s holdings in United Parcel Service were worth $5,561,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Graybill Wealth Management LTD. purchased a new stake in United Parcel Service during the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in United Parcel Service during the 4th quarter valued at approximately $27,000. Citizens National Bank Trust Department grew its holdings in 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 buying an additional 210 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in United Parcel Service during the 4th quarter valued at approximately $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in United Parcel Service during the 4th quarter valued at approximately $31,000. Institutional investors own 60.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UPS. Barclays lowered their target price on United Parcel Service from $100.00 to $90.00 and set an "underweight" rating for the company in a research report on Monday, March 31st. Stifel Nicolaus lowered their target price on United Parcel Service from $145.00 to $124.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets lowered their target price on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. HSBC downgraded United Parcel Service from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research report on Thursday, May 1st. Finally, BNP Paribas Exane raised shares of 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. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $118.22.

United Parcel Service Stock Up 1.0%

Shares of United Parcel Service stock traded up $1.06 during trading on Friday, hitting $103.59. 5,471,470 shares of the stock traded hands, compared to its average volume of 4,516,731. The firm has a market cap of $87.72 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24. United Parcel Service, Inc. has a 52-week low of $90.55 and a 52-week high of $145.01. The stock's fifty day simple moving average is $100.01 and its 200 day simple moving average is $107.23.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were paid a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.33%. United Parcel Service's dividend payout ratio (DPR) is presently 95.63%.

United Parcel Service 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.