Cambridge Investment Research Advisors Inc. trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,471 shares of the transportation company’s stock after selling 13,768 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in United Parcel Service were worth $27,758,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. BDO Wealth Advisors LLC raised its position in shares of United Parcel Service by 131.3% in the first quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock valued at $26,000 after buying an additional 88 shares during the last quarter. Corbenic Partners LLC acquired a new stake in shares of United Parcel Service in the second quarter valued at about $33,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of United Parcel Service in the first quarter valued at about $34,000. Optiver Holding B.V. purchased a new stake in shares of United Parcel Service in the first quarter valued at about $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of United Parcel Service in the first quarter valued at about $43,000. Institutional investors and hedge funds own 56.98% of the company’s stock.
UPS has been the subject of a number of analyst reports. Stephens upped their price objective on shares of United Parcel Service from $207.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday, June 10th. JPMorgan Chase & Co. set a $192.23 target price on shares of United Parcel Service in a research note on Tuesday, July 27th. Oppenheimer increased their target price on shares of United Parcel Service from $210.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, June 10th. Stifel Nicolaus began coverage on shares of United Parcel Service in a research note on Monday, June 21st. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a research note on Tuesday, June 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $205.75.
United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 27th. The transportation company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.25. The business had revenue of $23.42 billion during the quarter, compared to the consensus estimate of $23.17 billion. United Parcel Service had a return on equity of 155.54% and a net margin of 6.66%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 11.16 earnings per share for the current fiscal year.
United Parcel Service declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to buy up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Investors of record on Monday, August 23rd were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, August 20th. United Parcel Service’s payout ratio is 49.57%.
United Parcel Service Profile
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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