Boomfish Wealth Group LLC Reduces Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Boomfish Wealth Group LLC decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 5.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,488 shares of the transportation company’s stock after selling 1,027 shares during the period. United Parcel Service makes up about 1.5% of Boomfish Wealth Group LLC’s holdings, making the stock its 28th largest holding. Boomfish Wealth Group LLC’s holdings in United Parcel Service were worth $2,384,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cullen Investment Group LTD. boosted its holdings in shares of 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 purchasing an additional 68 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its stake in United Parcel Service by 1.4% in the 2nd quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock worth $694,000 after buying an additional 69 shares during the last quarter. Moody National Bank Trust Division grew its holdings in United Parcel Service by 0.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,113 shares of the transportation company’s stock valued at $1,354,000 after buying an additional 71 shares during the period. Legacy Wealth Asset Management LLC increased its stake in shares of United Parcel Service by 2.1% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 73 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of United Parcel Service by 0.9% during the 1st quarter. Cornerstone Wealth Management LLC now owns 8,538 shares of the transportation company’s stock worth $1,269,000 after acquiring an additional 73 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William R. Johnson purchased 5,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was acquired at an average cost of $128.61 per share, for a total transaction of $643,050.00. Following the acquisition, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The trade was a 3,100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $134.57 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. United Parcel Service, Inc. has a fifty-two week low of $123.12 and a fifty-two week high of $163.82. The business has a 50 day moving average price of $129.39 and a two-hundred day moving average price of $136.86. The firm has a market cap of $115.27 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The company had revenue of $21.82 billion for the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.85%. United Parcel Service’s payout ratio is 106.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Stephens cut their target price on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Citigroup began coverage on United Parcel Service in a research report on Wednesday, October 9th. They set a “buy” rating and a $162.00 price target for the company. Bank of America cut their price objective on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Evercore ISI decreased their target price on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, United Parcel Service has a consensus rating of “Moderate Buy” and a consensus target price of $151.24.

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.