Cacti Asset Management LLC trimmed its position in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 356,031 shares of the transportation company’s stock after selling 5,539 shares during the period. United Parcel Service makes up approximately 1.8% of Cacti Asset Management LLC’s investment portfolio, making the stock its 17th largest holding. Cacti Asset Management LLC’s holdings in United Parcel Service were worth $33,442,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of United Parcel Service by 72.9% during the 4th quarter. Victory Capital Management Inc. now owns 13,818,314 shares of the transportation company’s stock worth $1,370,639,000 after acquiring an additional 5,826,824 shares in the last quarter. Pacer Advisors Inc. grew its position in United Parcel Service by 507.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,244,234 shares of the transportation company’s stock valued at $321,796,000 after purchasing an additional 2,710,470 shares in the last quarter. Wellington Management Group LLP increased its stake in United Parcel Service by 262.7% in the 2nd quarter. Wellington Management Group LLP now owns 3,046,707 shares of the transportation company’s stock valued at $327,521,000 after buying an additional 2,206,666 shares during the last quarter. Bank of America Corp DE increased its stake in United Parcel Service by 23.3% in the 1st quarter. Bank of America Corp DE now owns 9,728,123 shares of the transportation company’s stock valued at $957,053,000 after buying an additional 1,836,651 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in United Parcel Service during the 2nd quarter worth about $192,304,000. 60.26% of the stock is owned by institutional investors and hedge funds.
United Parcel Service Stock Performance
Shares of UPS stock traded up $0.69 during trading on Thursday, reaching $94.12. 1,602,933 shares of the company’s stock were exchanged, compared to its average volume of 5,672,540. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $122.41. The firm’s fifty day moving average price is $102.53 and its 200-day moving average price is $103.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $80.08 billion, a PE ratio of 17.48, a PEG ratio of 1.73 and a beta of 1.06.
United Parcel Service Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th were given a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $6.56 annualized dividend and a dividend yield of 7.0%. United Parcel Service’s dividend payout ratio is presently 121.93%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on UPS. Susquehanna raised their price objective on United Parcel Service from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wall Street Zen lowered United Parcel Service from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Stephens reduced their price target on United Parcel Service from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, July 29th. Sanford C. Bernstein raised their price target on United Parcel Service from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, Citizens Jmp began coverage on United Parcel Service in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $117.41.
Get Our Latest Stock Report on UPS
About United Parcel Service
United Parcel Service, Inc (NYSE: UPS) is a global logistics and package delivery company that provides transportation and supply chain management services to businesses and consumers. Its operations include the pickup, transportation and delivery of packages, documents and freight through ground, air and international networks.
UPS also offers logistics and supply chain solutions, including warehousing, distribution, customs brokerage, contract logistics, returns management and specialized services for healthcare and other industries.
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