Forvis Mazars Wealth Advisors LLC Trims Position in United Parcel Service, Inc. $UPS

Forvis Mazars Wealth Advisors LLC cut its position in United Parcel Service, Inc. (NYSE:UPS) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,456 shares of the transportation company’s stock after selling 177 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in United Parcel Service were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Graybill Wealth Management LTD. purchased a new stake in shares of United Parcel Service in the first quarter worth $26,000. Citizens National Bank Trust Department increased its stake in shares of United Parcel Service by 525.0% in the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. Hemington Wealth Management grew its stake in United Parcel Service by 68.9% during the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 115 shares in the last quarter. Saudi Central Bank purchased a new position in United Parcel Service during the first quarter valued at $32,000. Finally, Flaharty Asset Management LLC purchased a new position in United Parcel Service during the first quarter valued at $33,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on UPS. Truist Financial cut their target price on shares of United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Morgan Stanley cut their target price on shares of United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. Susquehanna cut their target price on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed a “market perform” rating and set a $96.00 target price (down from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. Finally, Evercore ISI cut their target price on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $109.31.

United Parcel Service Price Performance

UPS stock opened at $86.48 on Monday. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $85.58 and a two-hundred day simple moving average of $93.41. The firm has a market capitalization of $73.30 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter last year, the business earned $1.79 EPS. United Parcel Service’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service’s dividend payout ratio (DPR) is 97.62%.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the acquisition, the director owned 10,160 shares of the company’s stock, valued at $878,840. The trade was a 96.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carol B. Tome bought 11,682 shares of the stock in a transaction dated Friday, August 1st. The stock was purchased at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is currently owned by insiders.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.