PVG Asset Management Corp bought a new stake in shares of United Parcel Service, Inc. (NYSE:UPS) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,732 shares of the transportation company’s stock, valued at approximately $901,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of UPS. Cypress Capital Management LLC bought a new position in shares of United Parcel Service in the second quarter worth about $7,798,000. Lockheed Martin Investment Management Co. bought a new position in United Parcel Service during the first quarter valued at about $4,648,000. Nomura Asset Management Co. Ltd. increased its stake in United Parcel Service by 7.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 207,803 shares of the transportation company’s stock valued at $21,459,000 after acquiring an additional 13,743 shares during the period. Bank of Nova Scotia increased its stake in United Parcel Service by 9.8% during the second quarter. Bank of Nova Scotia now owns 148,153 shares of the transportation company’s stock valued at $14,653,000 after acquiring an additional 13,206 shares during the period. Finally, Fisher Asset Management LLC increased its stake in United Parcel Service by 15.8% during the second quarter. Fisher Asset Management LLC now owns 49,269 shares of the transportation company’s stock valued at $5,088,000 after acquiring an additional 6,715 shares during the period. Institutional investors own 55.28% of the company’s stock.
Several equities analysts recently issued reports on UPS shares. Deutsche Bank restated a “hold” rating on shares of United Parcel Service in a research note on Tuesday, July 2nd. Goldman Sachs Group assumed coverage on United Parcel Service in a research note on Wednesday, July 10th. They set a “buy” rating and a $123.00 price target on the stock. UBS Group lifted their price objective on United Parcel Service to $128.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Daiwa Capital Markets raised United Parcel Service from a “neutral” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Monday, August 26th. Finally, Raymond James lifted their price objective on United Parcel Service from $130.00 to $135.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $119.72.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings data 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. United Parcel Service had a net margin of 6.56% and a return on equity of 175.60%. The company had revenue of $18.05 billion during the quarter, compared to the consensus estimate of $17.98 billion. During the same period in the prior year, the business posted $1.94 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts expect that United Parcel Service, Inc. will post 7.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Monday, August 19th were issued a $0.96 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $3.84 annualized dividend and a yield of 3.19%. 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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