Equity Investment Corp lessened its stake in United Parcel Service, Inc. (NYSE:UPS) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 855,428 shares of the transportation company’s stock after selling 39,336 shares during the quarter. United Parcel Service comprises 3.2% of Equity Investment Corp’s investment portfolio, making the stock its 10th biggest position. Equity Investment Corp owned 0.10% of United Parcel Service worth $99,871,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of UPS. Fisher Asset Management LLC raised its stake in United Parcel Service by 1.2% during the second quarter. Fisher Asset Management LLC now owns 43,033 shares of the transportation company’s stock worth $4,571,000 after acquiring an additional 511 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in United Parcel Service by 9.7% during the second quarter. Xact Kapitalforvaltning AB now owns 125,369 shares of the transportation company’s stock worth $13,318,000 after acquiring an additional 11,082 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new position in United Parcel Service during the second quarter worth about $2,066,000. Daiwa SB Investments Ltd. acquired a new position in United Parcel Service during the second quarter worth about $807,000. Finally, Addenda Capital Inc. acquired a new position in United Parcel Service during the second quarter worth about $6,490,000. 53.65% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on UPS shares. UBS Group raised United Parcel Service from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Monday, July 16th. Goldman Sachs Group set a $139.00 target price on United Parcel Service and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research raised United Parcel Service from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Tuesday, July 24th. Citigroup lowered their target price on United Parcel Service from $134.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Finally, Cowen reaffirmed a “hold” rating and issued a $128.00 price objective on shares of United Parcel Service in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $125.66.
In other United Parcel Service news, insider George Willis sold 4,312 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $121.34, for a total transaction of $523,218.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James J. Barber sold 2,500 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $121.94, for a total value of $304,850.00. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.
Shares of UPS stock opened at $109.51 on Friday. United Parcel Service, Inc. has a one year low of $101.45 and a one year high of $135.53. The company has a market capitalization of $93.48 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.62 and a beta of 1.14. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 6.43.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The firm had revenue of $17.44 billion for the quarter, compared to analysts’ expectations of $17.48 billion. United Parcel Service had a return on equity of 307.54% and a net margin of 7.68%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 EPS. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, November 16th. United Parcel Service’s payout ratio is 60.57%.
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United Parcel Service Company Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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