Ridgecrest Wealth Partners LLC Raises Stake in United Parcel Service, Inc. $UPS

Ridgecrest Wealth Partners LLC lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,257 shares of the transportation company’s stock after purchasing an additional 277 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in United Parcel Service were worth $228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Graybill Wealth Management LTD. acquired a new position in United Parcel Service during the first quarter worth about $26,000. Citizens National Bank Trust Department boosted its stake in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock worth $27,000 after acquiring an additional 210 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of United Parcel Service by 68.9% in the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock worth $31,000 after acquiring an additional 115 shares during the period. Saudi Central Bank purchased a new position in United Parcel Service in the 1st quarter valued at approximately $32,000. Finally, Flaharty Asset Management LLC acquired a new position in United Parcel Service during the first quarter worth $33,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insider Buying and Selling

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

United Parcel Service Stock Performance

NYSE:UPS opened at $84.35 on Wednesday. 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 has a market cap of $71.50 billion, a PE ratio of 12.55, a P/E/G ratio of 1.55 and a beta of 1.08. The firm has a 50 day simple moving average of $88.86 and a 200-day simple moving average of $97.15. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $145.01.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm 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 firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.79 earnings per share. On average, equities analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 7.8%. The ex-dividend date was Monday, August 18th. United Parcel Service’s dividend payout ratio is presently 97.62%.

Analyst Ratings Changes

Several analysts have weighed in on UPS shares. Vertical Research reissued a “hold” rating and issued a $103.00 target price on shares of United Parcel Service in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of United Parcel Service from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $96.00 price target (down previously from $125.00) on shares of United Parcel Service in a report on Friday, September 19th. Oppenheimer lowered 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 report on Wednesday, July 30th. Finally, Evercore ISI cut their price objective on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.44.

About United Parcel Service

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.