Scotia Capital Inc. lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 25.5% in the second quarter, HoldingsChannel.com reports. The firm owned 175,531 shares of the transportation company’s stock after selling 60,156 shares during the period. Scotia Capital Inc.’s holdings in United Parcel Service were worth $18,129,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in UPS. Capital Advisors Ltd. LLC boosted its stake in United Parcel Service by 65.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 297 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. First National Corp MA ADV purchased a new position in shares of United Parcel Service during the first quarter valued at approximately $38,000. Kavar Capital Partners LLC purchased a new position in shares of United Parcel Service during the second quarter valued at approximately $38,000. Whitener Capital Management Inc. grew its holdings in United Parcel Service by 75.0% during the first quarter. Whitener Capital Management Inc. now owns 350 shares of the transportation company’s stock worth $39,000 after buying an additional 150 shares in the last quarter. Finally, Orrstown Financial Services Inc. grew its holdings in United Parcel Service by 41.7% during the second quarter. Orrstown Financial Services Inc. now owns 425 shares of the transportation company’s stock worth $44,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.
UPS has been the topic of several recent analyst reports. Berenberg Bank restated a “buy” rating on shares of United Parcel Service in a research note on Friday, July 26th. Loop Capital raised their price target on shares of United Parcel Service to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Daiwa Capital Markets raised shares of United Parcel Service from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Monday, August 26th. Deutsche Bank restated a “hold” rating on shares of United Parcel Service in a report on Tuesday, July 2nd. Finally, UBS Group increased their price objective on shares of United Parcel Service to $128.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $119.72.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. The firm had revenue of $18.05 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. On average, research analysts predict that United Parcel Service, Inc. will post 7.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Monday, August 19th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, August 16th. United Parcel Service’s payout ratio is presently 53.04%.
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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