United Parcel Service, Inc. $UPS Shares Sold by Grimes & Company Inc.

Key Points

• Grimes & Company Inc. reduced its stake in United Parcel Service, Inc. by 18.5%, selling 27,950 shares in the second quarter, bringing their total holdings to 122,892 shares worth $12.4 million.
• Various institutional investors increased their stakes in UPS during the second quarter, with ownership among institutional investors now at 60.26%.
• Analysts have adjusted their price targets for UPS, with the consensus rating being "Hold" and an average price target of $110.16, reflecting a variety of ratings from Strong Buy to Sell.

Grimes & Company Inc. lessened its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,892 shares of the transportation company's stock after selling 27,950 shares during the quarter. Grimes & Company Inc.'s holdings in United Parcel Service were worth $12,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its position in shares of United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock valued at $546,000 after purchasing an additional 101 shares during the period. First Dallas Securities Inc. grew its position in shares of United Parcel Service by 0.9% in the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company's stock valued at $1,256,000 after purchasing an additional 102 shares during the period. TCV Trust & Wealth Management Inc. grew its position in shares of United Parcel Service by 1.4% in the first quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock valued at $830,000 after purchasing an additional 103 shares during the period. Fortis Capital Advisors LLC grew its position in shares of United Parcel Service by 3.4% in the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company's stock valued at $350,000 after purchasing an additional 104 shares during the period. Finally, Wright Investors Service Inc. grew its position in shares of United Parcel Service by 1.3% in the second quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company's stock valued at $793,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on UPS shares. Vertical Research reiterated a "hold" rating and issued a $103.00 target price on shares of United Parcel Service in a research report on Wednesday, July 30th. Citigroup decreased their price target on shares of United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Oppenheimer decreased their price target on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price target 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. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $96.00 price target (down from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, United Parcel Service currently has an average rating of "Hold" and a consensus price target of $110.16.

Insider Activity

In related news, Director William R. Johnson purchased 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 31st. The shares were acquired at an average cost of $86.50 per share, with a total value of $432,500.00. Following the purchase, the director owned 10,160 shares of the company's stock, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christiana Smith Shi purchased 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the purchase, the director directly owned 500 shares in the company, valued at approximately $44,085. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 17,182 shares of company stock valued at $1,477,382. Company insiders own 0.13% of the company's stock.

United Parcel Service Price Performance

Shares of UPS stock opened at $86.79 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The firm's 50-day moving average is $86.20 and its two-hundred day moving average is $95.17. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $145.01. The company has a market capitalization of $73.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its 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). 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 analysts' expectations of $20.90 billion. During the same period last year, the firm earned $1.79 earnings per share. United Parcel Service's revenue for the quarter was down 2.7% on a year-over-year basis. Analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. United Parcel Service's payout ratio is 97.62%.

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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