United Parcel Service, Inc. $UPS Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its stake in United Parcel Service (UPS) by 6.0%, selling 4,570 shares and now holding 71,168 shares valued at $7.83 million, according to a recent SEC filing.
• Analysts have lowered their price targets for UPS, with Redburn Atlantic and Argus reducing theirs to $117 and $120 respectively, while the stock currently has an average rating of "Hold" and a price target of $112.81.
• Insider transactions include Director William R. Johnson purchasing 5,000 shares and CEO Carol B. Tome acquiring 11,682 shares of UPS, significantly increasing their holdings in the company.

Synovus Financial Corp lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,168 shares of the transportation company's stock after selling 4,570 shares during the period. Synovus Financial Corp's holdings in United Parcel Service were worth $7,828,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after buying an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. grew its stake in United Parcel Service by 1,056.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after buying an additional 3,961,255 shares during the last quarter. Nuveen LLC purchased a new position in United Parcel Service during the 1st quarter worth approximately $201,358,000. Charles Schwab Investment Management Inc. grew its stake in United Parcel Service by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock worth $2,754,751,000 after buying an additional 1,780,807 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in United Parcel Service during the 4th quarter worth approximately $145,846,000. Institutional investors and hedge funds own 60.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research note on Thursday, July 3rd. DA Davidson lowered their target price on United Parcel Service from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. HSBC downgraded United Parcel Service from a "buy" rating to a "hold" rating and lowered their target price for the company from $140.00 to $105.00 in a research note on Thursday, May 1st. Stephens lowered their target price on United Parcel Service from $110.00 to $101.00 in a research note on Wednesday, April 30th. Finally, BMO Capital Markets lowered their target price on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $112.81.

Insider Buying and Selling

In other news, Director Christiana Smith Shi acquired 500 shares of United Parcel Service stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the acquisition, the director owned 500 shares in the company, valued at $44,085. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the acquisition, the chief executive officer owned 24,718 shares of the company's stock, valued at $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 17,182 shares of company stock valued at $1,477,382. 0.13% of the stock is owned by insiders.

United Parcel Service Price Performance

Shares of United Parcel Service stock traded down $0.26 during trading on Tuesday, reaching $87.48. The company's stock had a trading volume of 5,466,877 shares, compared to its average volume of 10,444,125. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12-month low of $84.28 and a 12-month high of $145.01. The company has a market capitalization of $74.15 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.61 and a beta of 1.12. The business has a 50 day moving average price of $95.38 and a 200-day moving average price of $101.57.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly 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). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. During the same quarter last year, the firm earned $1.79 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.5%. United Parcel Service's payout ratio is currently 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.