Princeton Capital Management LLC lifted its stake in United Parcel Service, Inc. (NYSE:UPS) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,327 shares of the transportation company’s stock after buying an additional 498 shares during the period. United Parcel Service comprises 2.9% of Princeton Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Princeton Capital Management LLC’s holdings in United Parcel Service were worth $9,219,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC lifted its stake in United Parcel Service by 131.3% during the first quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock worth $26,000 after purchasing an additional 88 shares during the period. Corbenic Partners LLC bought a new position in United Parcel Service during the second quarter worth about $33,000. University of Texas Texas AM Investment Managment Co. bought a new position in United Parcel Service during the first quarter worth about $34,000. Optiver Holding B.V. bought a new position in United Parcel Service during the first quarter worth about $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in United Parcel Service during the first quarter worth about $43,000. Institutional investors and hedge funds own 56.98% of the company’s stock.
UPS has been the subject of a number of analyst reports. Credit Suisse Group cut their price target on shares of United Parcel Service from $261.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, July 28th. Stifel Nicolaus initiated coverage on shares of United Parcel Service in a research note on Monday, June 21st. They issued a “hold” rating for the company. UBS Group reiterated a “buy” rating on shares of United Parcel Service in a research note on Tuesday, August 17th. Oppenheimer lifted their target price on shares of United Parcel Service from $210.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, June 10th. Finally, Berenberg Bank set a $150.00 target price on shares of United Parcel Service and gave the company a “neutral” rating in a research note on Friday, May 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $205.75.
United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, July 27th. The transportation company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.25. United Parcel Service had a net margin of 6.66% and a return on equity of 155.54%. The firm had revenue of $23.42 billion during the quarter, compared to analyst estimates of $23.17 billion. During the same quarter in the previous year, the business earned $2.13 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts forecast that United Parcel Service, Inc. will post 11.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were given a dividend of $1.02 per share. The ex-dividend date was Friday, August 20th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.17%. United Parcel Service’s dividend payout ratio is 49.57%.
United Parcel Service declared that its Board of Directors has authorized a share repurchase program on Thursday, August 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
About United Parcel Service
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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