K.J. Harrison & Partners Inc Cuts Holdings in United Parcel Service, Inc. $UPS

K.J. Harrison & Partners Inc lowered its stake in United Parcel Service, Inc. (NYSE:UPS) by 61.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the transportation company’s stock after selling 39,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in United Parcel Service were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in UPS. Brighton Jones LLC raised its holdings in United Parcel Service by 63.8% in the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock valued at $1,529,000 after acquiring an additional 4,723 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in United Parcel Service during the 2nd quarter worth approximately $277,000. SVB Wealth LLC acquired a new position in United Parcel Service during the 2nd quarter worth approximately $848,000. Treasurer of the State of North Carolina increased its position in shares of United Parcel Service by 2.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 342,866 shares of the transportation company’s stock valued at $34,609,000 after purchasing an additional 9,124 shares during the last quarter. Finally, Ieq Capital LLC increased its position in shares of United Parcel Service by 154.5% in the 2nd quarter. Ieq Capital LLC now owns 104,819 shares of the transportation company’s stock valued at $10,580,000 after purchasing an additional 63,629 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $110.71 on Friday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The firm has a market capitalization of $94.11 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $104.91 and its 200 day moving average price is $105.25.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.99 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. United Parcel Service’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that United Parcel Service, Inc. will post 7.1 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Monday, May 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 106.15%.

Analyst Ratings Changes

Several research firms recently commented on UPS. Citigroup increased their target price on United Parcel Service from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 8th. UBS Group lowered their price objective on United Parcel Service from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Evercore dropped their price objective on United Parcel Service from $115.00 to $113.00 and set an “in-line” rating on the stock in a report on Wednesday, April 22nd. Finally, Susquehanna raised their target price on United Parcel Service from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Hold” and a consensus price target of $110.85.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.