Legacy Wealth Asset Management LLC Increases Stock Position in United Parcel Service, Inc. $UPS

Legacy Wealth Asset Management LLC lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,924 shares of the transportation company’s stock after acquiring an additional 139 shares during the period. Legacy Wealth Asset Management LLC’s holdings in United Parcel Service were worth $396,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wallace Advisory Group LLC grew its position in shares of United Parcel Service by 20.0% during the second quarter. Wallace Advisory Group LLC now owns 4,614 shares of the transportation company’s stock worth $507,000 after acquiring an additional 770 shares during the last quarter. IMG Wealth Management Inc. grew its position in shares of United Parcel Service by 236.0% during the second quarter. IMG Wealth Management Inc. now owns 672 shares of the transportation company’s stock worth $68,000 after acquiring an additional 472 shares during the last quarter. Probity Advisors Inc. grew its position in shares of United Parcel Service by 1.0% during the second quarter. Probity Advisors Inc. now owns 14,605 shares of the transportation company’s stock worth $1,474,000 after acquiring an additional 149 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of United Parcel Service during the second quarter worth approximately $26,000. Finally, Berkeley Capital Partners LLC grew its position in shares of United Parcel Service by 69.8% during the second quarter. Berkeley Capital Partners LLC now owns 14,920 shares of the transportation company’s stock worth $1,506,000 after acquiring an additional 6,133 shares during the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Christiana Smith Shi bought 500 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the transaction, the director owned 500 shares of the company’s stock, valued at approximately $44,085. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Johnson bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the transaction, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 17,182 shares of company stock worth $1,477,382. Corporate insiders own 0.13% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $88.07 on Wednesday. The firm has a market capitalization of $74.64 billion, a P/E ratio of 13.11, a PEG ratio of 1.61 and a beta of 1.10. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $145.01. The company’s fifty day moving average is $85.61 and its two-hundred day moving average is $93.30. 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) last issued 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 company had revenue of $21.20 billion for 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%.United Parcel Service’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. Analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Monday, August 18th. United Parcel Service’s payout ratio is presently 97.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Susquehanna lowered their target price on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 30th. Bank of America dropped their price objective on shares of United Parcel Service from $83.00 to $81.00 and set an “underperform” rating on the stock in a research note on Friday, September 26th. BMO Capital Markets reissued a “market perform” rating and issued a $96.00 price objective (down from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. Finally, Stifel Nicolaus dropped their price objective on shares of United Parcel Service from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, United Parcel Service currently has an average rating of “Hold” and an average target price of $109.31.

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.