United Parcel Service, Inc. $UPS Shares Sold by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners Inc. cut its UPS stake by 61.9% in the first quarter, selling 39,000 shares and leaving it with 24,000 shares worth about $2.36 million.
• UPS reported better-than-expected first-quarter earnings of $1.07 per share on revenue of $21.20 billion, although revenue fell 1.4% year over year from the prior period.
• The company paid a quarterly dividend of $1.64 per share, which annualizes to $6.56 and implies a dividend yield of 5.9%, though the payout ratio is above 100%.

K.J. Harrison & Partners Inc lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 61.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,000 shares of the transportation company's stock after selling 39,000 shares during the period. K.J. Harrison & Partners Inc's holdings in United Parcel Service were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. St. Johns Investment Management Company LLC grew its position in United Parcel Service by 10.5% in the first quarter. St. Johns Investment Management Company LLC now owns 7,680 shares of the transportation company's stock worth $756,000 after acquiring an additional 727 shares during the period. Cherokee Insurance Co increased its stake in United Parcel Service by 7.2% during the first quarter. Cherokee Insurance Co now owns 14,800 shares of the transportation company's stock worth $1,456,000 after acquiring an additional 1,000 shares during the last quarter. V Square Quantitative Management LLC raised its position in United Parcel Service by 9.8% in the first quarter. V Square Quantitative Management LLC now owns 18,602 shares of the transportation company's stock valued at $1,830,000 after purchasing an additional 1,655 shares during the period. Eliot Finkel Investment Counsel LLC raised its position in United Parcel Service by 11.1% in the first quarter. Eliot Finkel Investment Counsel LLC now owns 41,995 shares of the transportation company's stock valued at $4,131,000 after purchasing an additional 4,190 shares during the period. Finally, Latitude Advisors LLC acquired a new position in shares of United Parcel Service in the 1st quarter valued at $215,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Price Performance

UPS opened at $110.71 on Friday. The stock's 50-day moving average price is $104.91 and its 200 day moving average price is $105.25. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $122.41. The firm has a market cap of $94.11 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.76 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The business had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.99 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The business's quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that United Parcel Service, Inc. will post 7.1 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, May 18th. United Parcel Service's dividend payout ratio (DPR) is currently 106.15%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UPS. UBS Group lowered their price target on United Parcel Service from $125.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Susquehanna boosted their price objective on shares of United Parcel Service from $116.00 to $118.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of United Parcel Service from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. Evercore lowered their target price on shares of United Parcel Service from $115.00 to $113.00 and set an "in-line" rating for the company in a research note on Wednesday, April 22nd. Finally, Citigroup lifted their price target on shares of United Parcel Service from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $110.85.

About United Parcel Service

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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