Legacy Wealth Asset Management LLC Grows Stock Position in United Parcel Service, Inc. $UPS

Legacy Wealth Asset Management LLC increased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,924 shares of the transportation company’s stock after purchasing an additional 139 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in United Parcel Service were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its stake in United Parcel Service by 63.8% in the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock valued at $1,529,000 after purchasing an additional 4,723 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in United Parcel Service by 12.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 166,943 shares of the transportation company’s stock valued at $18,362,000 after purchasing an additional 18,692 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in United Parcel Service by 61.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 4,566 shares of the transportation company’s stock valued at $502,000 after purchasing an additional 1,730 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in United Parcel Service by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 62,263 shares of the transportation company’s stock valued at $6,848,000 after purchasing an additional 5,097 shares during the last quarter. Finally, Narwhal Capital Management acquired a new position in United Parcel Service in the 1st quarter valued at about $533,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Parcel Service

In other news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the purchase, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christiana Smith Shi bought 500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the transaction, the director directly owned 500 shares of the company’s stock, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,182 shares of company stock valued at $1,477,382 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UPS. UBS Group cut their target price on shares of United Parcel Service from $118.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, October 3rd. 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. 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. Wall Street Zen downgraded shares of United Parcel Service from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $96.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.31.

United Parcel Service Stock Up 1.3%

Shares of NYSE:UPS opened at $88.07 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01. The stock has a market capitalization of $74.64 billion, a P/E ratio of 13.11, a PEG ratio of 1.61 and a beta of 1.10. The stock has a 50-day simple moving average of $85.61 and a 200-day simple moving average of $93.30.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $20.90 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service’s dividend payout ratio is presently 97.62%.

About United Parcel Service

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.