United Parcel Service, Inc. $UPS Position Cut by Conning Inc.

Conning Inc. decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,708 shares of the transportation company’s stock after selling 131 shares during the quarter. Conning Inc.’s holdings in United Parcel Service were worth $374,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bangor Savings Bank boosted its holdings in shares of United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock valued at $546,000 after acquiring an additional 101 shares in the last quarter. First Dallas Securities Inc. boosted its stake in United Parcel Service by 0.9% during the 1st quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock valued at $1,256,000 after purchasing an additional 102 shares in the last quarter. TCV Trust & Wealth Management Inc. boosted its stake in United Parcel Service by 1.4% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 103 shares in the last quarter. Fortis Capital Advisors LLC boosted its stake in United Parcel Service by 3.4% during the 1st quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 104 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its stake in United Parcel Service by 1.3% during the 2nd quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock valued at $793,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UPS. Truist Financial decreased their target price on United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. BMO Capital Markets restated a “market perform” rating and set a $96.00 price objective (down previously from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. Oppenheimer reduced their target price on shares of United Parcel Service from $114.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 30th. Stifel Nicolaus reduced their price objective on United Parcel Service from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group reduced their price objective on United Parcel Service from $118.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.38.

Insider Buying and Selling

In related news, Director William R. Johnson bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $86.50 per share, with a total value of $432,500.00. Following the purchase, the director directly owned 10,160 shares of the company’s stock, valued at approximately $878,840. This represents a 96.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Carol B. Tome bought 11,682 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the purchase, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $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 three months, insiders purchased 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

Shares of United Parcel Service stock opened at $82.97 on Friday. The stock has a market cap of $70.32 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10. The business has a fifty day simple moving average of $85.74 and a 200-day simple moving average of $94.34. 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 $82.00 and a 12 month high of $145.01.

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). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same period last year, the business earned $1.79 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.9%. The ex-dividend date was Monday, August 18th. United Parcel Service’s dividend payout ratio (DPR) 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.