Redmond Asset Management LLC lifted its stake in United Parcel Service, Inc. (NYSE:UPS) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,499 shares of the transportation company’s stock after purchasing an additional 231 shares during the quarter. Redmond Asset Management LLC’s holdings in United Parcel Service were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of UPS. Lockheed Martin Investment Management Co. bought a new stake in United Parcel Service in the 1st quarter worth about $4,648,000. Laurel Wealth Advisors Inc. increased its holdings in United Parcel Service by 7.9% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 26,779 shares of the transportation company’s stock worth $2,992,000 after buying an additional 1,953 shares in the last quarter. Fisher Asset Management LLC increased its holdings in United Parcel Service by 15.8% in the 2nd quarter. Fisher Asset Management LLC now owns 49,269 shares of the transportation company’s stock worth $5,088,000 after buying an additional 6,715 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in United Parcel Service in the 1st quarter worth about $1,791,000. Finally, Nations Financial Group Inc. IA ADV increased its holdings in United Parcel Service by 5.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 6,765 shares of the transportation company’s stock worth $756,000 after buying an additional 325 shares in the last quarter. 55.50% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on UPS shares. Zacks Investment Research upgraded United Parcel Service from a “sell” rating to a “hold” rating and set a $101.00 price objective for the company in a report on Thursday, May 23rd. Cowen reiterated a “market perform” rating and issued a $116.00 price objective (down from $118.00) on shares of United Parcel Service in a report on Friday, April 26th. UBS Group lifted their price objective on United Parcel Service to $128.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Berenberg Bank reiterated a “buy” rating on shares of United Parcel Service in a report on Friday, July 26th. Finally, Deutsche Bank reiterated a “hold” rating on shares of United Parcel Service in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $118.82.
United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.03. The business had revenue of $18.05 billion during the quarter, compared to the consensus estimate of $17.98 billion. United Parcel Service had a return on equity of 175.60% and a net margin of 6.56%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.38%. United Parcel Service’s dividend payout ratio is currently 53.04%.
United Parcel Service 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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