Summit Financial Wealth Advisors LLC Purchases 287 Shares of United Parcel Service, Inc. (NYSE:UPS)

Summit Financial Wealth Advisors LLC raised its stake in United Parcel Service, Inc. (NYSE:UPS) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,944 shares of the transportation company’s stock after buying an additional 287 shares during the period. United Parcel Service accounts for 2.1% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 13th largest holding. Summit Financial Wealth Advisors LLC’s holdings in United Parcel Service were worth $9,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in UPS. Beacon Capital Management LLC lifted its holdings in shares of United Parcel Service by 6.7% during the second quarter. Beacon Capital Management LLC now owns 977 shares of the transportation company’s stock worth $175,000 after purchasing an additional 61 shares during the period. Stillwater Capital Advisors LLC lifted its holdings in shares of United Parcel Service by 0.7% during the second quarter. Stillwater Capital Advisors LLC now owns 68,923 shares of the transportation company’s stock worth $12,354,000 after purchasing an additional 476 shares during the period. Cardinal Capital Management lifted its holdings in shares of United Parcel Service by 1.4% during the second quarter. Cardinal Capital Management now owns 19,090 shares of the transportation company’s stock worth $3,422,000 after purchasing an additional 269 shares during the period. First National Bank of South Miami lifted its holdings in shares of United Parcel Service by 1.5% during the second quarter. First National Bank of South Miami now owns 5,401 shares of the transportation company’s stock worth $968,000 after purchasing an additional 78 shares during the period. Finally, Birch Capital Management LLC lifted its holdings in shares of United Parcel Service by 1.8% during the second quarter. Birch Capital Management LLC now owns 34,305 shares of the transportation company’s stock worth $6,149,000 after purchasing an additional 591 shares during the period. Institutional investors and hedge funds own 58.45% of the company’s stock.

United Parcel Service Stock Performance

UPS traded down $1.34 during midday trading on Tuesday, reaching $157.10. The company had a trading volume of 247,568 shares, compared to its average volume of 3,318,853. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $134.23 billion, a PE ratio of 13.75, a P/E/G ratio of 1.70 and a beta of 1.09. United Parcel Service, Inc. has a 12-month low of $154.87 and a 12-month high of $197.80. The business has a 50-day moving average price of $175.33 and a two-hundred day moving average price of $178.27.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, August 8th. The transportation company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.05. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $23.04 billion. United Parcel Service had a net margin of 10.41% and a return on equity of 51.28%. The company’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.29 earnings per share. On average, sell-side analysts expect that United Parcel Service, Inc. will post 9.46 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Monday, August 14th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Friday, August 11th. United Parcel Service’s payout ratio is currently 56.20%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UPS. Bank of America dropped 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. UBS Group lowered shares of United Parcel Service from a “buy” rating to a “neutral” rating and dropped their target price for the company from $198.00 to $185.00 in a report on Wednesday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of United Parcel Service from $181.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Stifel Nicolaus lifted their price target on shares of United Parcel Service to $203.00 in a research note on Wednesday, July 26th. Finally, TD Cowen decreased their price target on shares of United Parcel Service from $190.00 to $185.00 and set a “market perform” rating for the company in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.89.

Insider Activity at United Parcel Service

In related news, insider Nando Cesarone sold 22,825 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the sale, the insider now directly owns 1 shares in the company, valued at approximately $171.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.12% 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 letters, documents, small packages, and palletized freight through air and ground services in the United States.