Parallel Advisors LLC Reduces Holdings in United Parcel Service, Inc. (NYSE:UPS)

Parallel Advisors LLC lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,601 shares of the transportation company’s stock after selling 905 shares during the quarter. Parallel Advisors LLC’s holdings in United Parcel Service were worth $2,546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UPS. Wellington Management Group LLP raised its position in United Parcel Service by 87.6% in the 4th quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock worth $2,854,180,000 after purchasing an additional 8,475,698 shares during the period. Norges Bank purchased a new stake in shares of United Parcel Service in the fourth quarter worth approximately $1,128,322,000. First Trust Advisors LP lifted its stake in shares of United Parcel Service by 208.1% during the 4th quarter. First Trust Advisors LP now owns 1,717,391 shares of the transportation company’s stock worth $270,025,000 after acquiring an additional 1,160,005 shares during the last quarter. Spirepoint Private Client LLC purchased a new position in United Parcel Service during the 1st quarter valued at $160,787,000. Finally, Franklin Resources Inc. grew its position in United Parcel Service by 11.4% in the 4th quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock valued at $1,510,517,000 after acquiring an additional 980,317 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UPS shares. UBS Group decreased their target price on United Parcel Service from $175.00 to $159.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets dropped their target price on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Robert W. Baird lowered their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Susquehanna reduced their price objective on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Moderate Buy” and an average target price of $149.68.

United Parcel Service Stock Performance

Shares of UPS stock opened at $127.24 on Friday. The business’s fifty day simple moving average is $130.88 and its 200-day simple moving average is $139.93. The company has a market cap of $108.99 billion, a PE ratio of 18.44, a PEG ratio of 1.89 and a beta of 0.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82.

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). United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The business had revenue of $21.82 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts expect that United Parcel Service, Inc. will post 7.43 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s payout ratio is currently 94.49%.

Insider Buying and Selling

In related news, Director William R. Johnson purchased 5,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were acquired at an average price of $128.61 per share, for a total transaction of $643,050.00. Following the purchase, the director now owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

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