Zions Bancorporation National Association UT Buys Shares of 30,881 United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Zions Bancorporation acquired a new stake in United Parcel Service (UPS), purchasing 30,881 shares valued at approximately $3.4 million during the first quarter.
• Insider transactions revealed significant stock purchases, with Director William R. Johnson and CEO Carol B. Tome increasing their holdings by 96.90% and 89.61%, respectively.
• Wall Street analysts have lowered their target prices for UPS, with a consensus rating of "Hold" and an average target price decreasing to $112.81.

Zions Bancorporation National Association UT acquired a new stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,881 shares of the transportation company's stock, valued at approximately $3,397,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Graybill Wealth Management LTD. bought a new position in United Parcel Service during the 1st quarter worth approximately $26,000. Pinney & Scofield Inc. bought a new position in United Parcel Service during the fourth quarter worth $27,000. Citizens National Bank Trust Department lifted its stake in United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after purchasing an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in United Parcel Service during the fourth quarter worth $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in United Parcel Service during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

Insider Transactions at United Parcel Service

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the acquisition, the director owned 10,160 shares of the company's stock, valued at $878,840. This represents a 96.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carol B. Tome purchased 11,682 shares of the stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. This represents a 89.61% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

United Parcel Service Trading Up 1.2%

UPS traded up $1.06 during trading on Tuesday, reaching $87.37. The company had a trading volume of 3,769,883 shares, compared to its average volume of 6,307,590. The firm's 50-day simple moving average is $98.02 and its 200 day simple moving average is $103.91. The company has a market cap of $73.98 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.58 and a beta of 1.12. United Parcel Service, Inc. has a 12-month low of $84.28 and a 12-month high of $145.01. 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 (NYSE:UPS - Get Free Report) last issued 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). The company had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 EPS. Equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.5%. United Parcel Service's dividend payout ratio (DPR) is currently 97.62%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus reduced their price objective on United Parcel Service from $150.00 to $120.00 in a research note on Friday, May 23rd. BNP Paribas raised United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Daiwa America cut their price target on United Parcel Service from $120.00 to $103.00 in a report on Wednesday, April 30th. Oppenheimer cut their price target on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Two investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target 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.