United Parcel Service, Inc. (NYSE:UPS) Shares Purchased by Redmond Asset Management LLC

Key Points

• Redmond Asset Management LLC increased its holdings in United Parcel Service by 9.3%, acquiring an additional 2,851 shares, bringing its total to 33,449 shares valued at approximately $3.68 million.
• United Parcel Service missed earnings expectations with reported earnings per share of $1.55, slightly below the consensus estimate of $1.56, while revenue increased to $21.20 billion.
• The company announced a quarterly dividend of $1.64 per share, which translates to an annualized dividend yield of 7.4%, with a payout ratio of 97.62%.

Redmond Asset Management LLC lifted its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 9.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,449 shares of the transportation company's stock after purchasing an additional 2,851 shares during the quarter. Redmond Asset Management LLC's holdings in United Parcel Service were worth $3,679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Graybill Wealth Management LTD. acquired a new stake in United Parcel Service during the 1st quarter worth about $26,000. Pinney & Scofield Inc. acquired a new position in shares of United Parcel Service in the 4th quarter valued at about $27,000. Citizens National Bank Trust Department lifted its holdings in shares of United Parcel Service by 525.0% in 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 during the period. Fourth Dimension Wealth LLC acquired a new position in shares of United Parcel Service in the 4th quarter valued at about $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of United Parcel Service in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 60.26% of the company's stock.

United Parcel Service Stock Up 0.6%

Shares of UPS opened at $88.70 on Friday. The company's 50-day simple moving average is $97.43 and its 200-day simple moving average is $103.36. 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 $84.28 and a 1 year high of $145.01. The stock has a market capitalization of $75.11 billion, a PE ratio of 13.20, a P/E/G ratio of 1.62 and a beta of 1.12.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its 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 business had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. During the same period in the previous year, the company earned $1.79 earnings per share. United Parcel Service's quarterly revenue was down 2.7% on a year-over-year basis. Analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's payout ratio is presently 97.62%.

Insider Buying and Selling at United Parcel Service

In related news, CEO Carol B. Tome bought 11,682 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the purchase, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William R. Johnson bought 5,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, 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. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UPS shares. BNP Paribas raised United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Jefferies Financial Group cut their price target on United Parcel Service from $150.00 to $130.00 in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Citigroup cut their price objective on United Parcel Service from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Loop Capital cut their price objective on United Parcel Service from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service has an average rating of "Hold" and a consensus target price of $112.81.

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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