United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. decreased its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 32.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,687 shares of the transportation company’s stock after selling 801 shares during the period. Mcrae Capital Management Inc.’s holdings in United Parcel Service were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cullen Investment Group LTD. boosted its position in United Parcel Service by 0.7% during the first quarter. Cullen Investment Group LTD. now owns 9,921 shares of the transportation company’s stock worth $1,480,000 after acquiring an additional 68 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in shares of United Parcel Service by 1.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock worth $694,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of United Parcel Service by 2.2% during the first quarter. Versant Capital Management Inc now owns 3,212 shares of the transportation company’s stock worth $477,000 after purchasing an additional 70 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of United Parcel Service by 0.8% in the first quarter. Moody National Bank Trust Division now owns 9,113 shares of the transportation company’s stock valued at $1,354,000 after purchasing an additional 71 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its stake in United Parcel Service by 2.1% in the first quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 73 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stephens lowered their price target on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. UBS Group lowered their target price on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. HSBC raised shares of United Parcel Service from a “hold” rating to a “buy” rating and increased their price target for the stock from $150.00 to $170.00 in a research note on Thursday, April 25th. BMO Capital Markets dropped their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Finally, TD Cowen initiated coverage on United Parcel Service in a report on Thursday. They issued a “hold” rating and a $144.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.20.

United Parcel Service Stock Up 0.9 %

United Parcel Service stock traded up $1.16 during midday trading on Friday, hitting $128.00. 6,309,001 shares of the stock were exchanged, compared to its average volume of 4,256,522. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $172.75. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $109.64 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.82 and a beta of 0.98. The company has a 50 day moving average price of $133.22 and a two-hundred day moving average price of $141.99.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.20). The business had revenue of $21.82 billion for the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.51 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Monday, August 19th. United Parcel Service’s payout ratio is 94.49%.

Insider Activity

In related news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the acquisition, the director now directly owns 5,160 shares in the company, valued at $663,627.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company’s stock.

About United Parcel Service

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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.