Birch Capital Management LLC lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,305 shares of the transportation company’s stock after purchasing an additional 591 shares during the period. United Parcel Service makes up about 3.7% of Birch Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Birch Capital Management LLC’s holdings in United Parcel Service were worth $6,149,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. American National Bank increased its position in United Parcel Service by 44.5% in the second quarter. American National Bank now owns 3,245 shares of the transportation company’s stock worth $582,000 after purchasing an additional 1,000 shares during the period. Royal Fund Management LLC boosted its stake in shares of United Parcel Service by 5.4% in the 2nd quarter. Royal Fund Management LLC now owns 9,199 shares of the transportation company’s stock valued at $1,649,000 after purchasing an additional 469 shares during the last quarter. Darwin Wealth Management LLC grew its position in shares of United Parcel Service by 8.5% during the 2nd quarter. Darwin Wealth Management LLC now owns 4,885 shares of the transportation company’s stock worth $905,000 after buying an additional 381 shares during the period. Biltmore Wealth Management LLC bought a new stake in shares of United Parcel Service during the second quarter worth approximately $672,000. Finally, Sunburst Financial Group LLC lifted its holdings in United Parcel Service by 9.8% in the second quarter. Sunburst Financial Group LLC now owns 1,601 shares of the transportation company’s stock valued at $287,000 after buying an additional 143 shares during the period. 58.45% of the stock is owned by institutional investors.
Insider Buying and Selling at United Parcel Service
In other news, insider Nando Cesarone sold 22,825 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the completion of the transaction, the insider now owns 1 shares of the company’s stock, valued at approximately $171.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.12% of the company’s stock.
United Parcel Service Price Performance
United Parcel Service (NYSE:UPS – Get Free Report) last released its earnings results on Tuesday, August 8th. The transportation company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.49 by $0.05. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $23.04 billion. United Parcel Service had a net margin of 10.41% and a return on equity of 51.28%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm earned $3.29 EPS. As a group, research analysts expect that United Parcel Service, Inc. will post 9.46 EPS for the current fiscal year.
United Parcel Service Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.09%. The ex-dividend date was Friday, August 11th. United Parcel Service’s payout ratio is presently 56.20%.
Analyst Ratings Changes
UPS has been the subject of a number of analyst reports. Oppenheimer lowered their target price on shares of United Parcel Service from $195.00 to $184.00 and set an “outperform” rating for the company in a report on Monday. Citigroup dropped their price objective on United Parcel Service from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, September 12th. Stifel Nicolaus boosted their price objective on shares of United Parcel Service to $203.00 in a report on Wednesday, July 26th. Bank of America cut their target price on shares of United Parcel Service from $190.00 to $177.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. Finally, UBS Group lowered shares of United Parcel Service from a “buy” rating to a “neutral” rating and decreased their price target for the company from $198.00 to $185.00 in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.89.
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 letters, documents, small packages, and palletized freight through air and ground services in the United States.
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