VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 94,200 shares of the transportation company’s stock, valued at approximately $9,509,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in UPS. Goldman Sachs Group Inc. lifted its stake in United Parcel Service by 124.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock valued at $991,132,000 after purchasing an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. lifted its stake in United Parcel Service by 1,056.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after purchasing an additional 3,961,255 shares during the last quarter. Nuveen LLC bought a new position in United Parcel Service in the 1st quarter valued at approximately $201,358,000. Charles Schwab Investment Management Inc. lifted its stake in United Parcel Service by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in United Parcel Service by 443.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after purchasing an additional 1,264,842 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.
United Parcel Service Stock Up 0.5%
UPS opened at $86.88 on Tuesday. The firm has a market capitalization of $73.64 billion, a P/E ratio of 12.93, a PEG ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.01. The company’s 50-day moving average is $85.59 and its 200 day moving average is $93.34.
United Parcel Service Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.6%. United Parcel Service’s dividend payout ratio is presently 97.62%.
Analysts Set New Price Targets
Several brokerages recently commented on UPS. Bank of America dropped their price objective on shares of United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Wolfe Research dropped their price objective on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, July 1st. BMO Capital Markets restated a “market perform” rating and issued a $96.00 price target (down from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. Galvan Research decreased their price target on shares of United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Finally, BNP Paribas Exane upgraded shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price target for the company in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, United Parcel Service has a consensus rating of “Hold” and a consensus price target of $109.31.
Get Our Latest Analysis on UPS
Insiders Place Their Bets
In related news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average cost 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. This trade represents a 96.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Carol B. Tome bought 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is currently owned by corporate insiders.
United Parcel Service Company 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.
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