Fred Alger Management Inc. reduced its holdings in United Parcel Service, Inc. (NYSE:UPS) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,688 shares of the transportation company’s stock after selling 755 shares during the quarter. Fred Alger Management Inc.’s holdings in United Parcel Service were worth $1,154,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Focused Wealth Management Inc bought a new position in United Parcel Service in the 4th quarter worth about $106,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of United Parcel Service during the 3rd quarter valued at about $120,000. Resources Investment Advisors Inc. increased its position in shares of United Parcel Service by 51.2% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,235 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 418 shares during the last quarter. Epstein & White Financial LLC bought a new position in shares of United Parcel Service during the 4th quarter valued at about $228,000. Finally, Icon Wealth Partners LLC bought a new position in shares of United Parcel Service during the 4th quarter valued at about $195,000. Institutional investors and hedge funds own 54.10% of the company’s stock.
In related news, SVP Teri P. Mcclure sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $106.80, for a total transaction of $480,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is owned by company insiders.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, February 1st. The transportation company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.01. United Parcel Service had a return on equity of 477.77% and a net margin of 7.45%. The business had revenue of $18.83 billion for the quarter, compared to analyst estimates of $18.20 billion. During the same period last year, the company earned $1.63 EPS. United Parcel Service’s revenue for the quarter was up 11.2% compared to the same quarter last year. analysts predict that United Parcel Service, Inc. will post 7.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.33%. This is a positive change from United Parcel Service’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, February 16th. United Parcel Service’s dividend payout ratio (DPR) is presently 68.55%.
Several equities analysts have recently commented on UPS shares. Edward Jones upgraded United Parcel Service from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Deutsche Bank reiterated a “buy” rating and set a $145.00 price objective (up from $135.00) on shares of United Parcel Service in a research report on Monday, January 8th. Knight Equity reiterated a “buy” rating and set a $135.00 price objective (down from $145.00) on shares of United Parcel Service in a research report on Monday, January 8th. Loop Capital upgraded United Parcel Service from a “hold” rating to a “buy” rating and increased their price objective for the company from $105.61 to $128.00 in a research report on Monday, February 26th. Finally, Stifel Nicolaus upgraded United Parcel Service from a “hold” rating to a “buy” rating and reduced their price objective for the company from $127.00 to $121.00 in a research report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $125.21.
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United Parcel Service Company Profile
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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