King Luther Capital Management Corp Reduces Holdings in United Parcel Service, Inc. (NYSE:UPS)

King Luther Capital Management Corp lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 36.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,926 shares of the transportation company’s stock after selling 5,817 shares during the period. King Luther Capital Management Corp’s holdings in United Parcel Service were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. United Services Automobile Association lifted its stake in shares of United Parcel Service by 235.3% in the 4th quarter. United Services Automobile Association now owns 237,333 shares of the transportation company’s stock valued at $37,316,000 after purchasing an additional 166,557 shares during the last quarter. Natixis purchased a new position in United Parcel Service during the first quarter worth about $121,000. Financial Partners Group LLC raised its stake in shares of United Parcel Service by 23.9% in the 2nd quarter. Financial Partners Group LLC now owns 26,319 shares of the transportation company’s stock valued at $3,602,000 after acquiring an additional 5,069 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of United Parcel Service by 12.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 59,567 shares of the transportation company’s stock valued at $8,853,000 after acquiring an additional 6,502 shares during the period. Finally, Nvwm LLC lifted its holdings in shares of United Parcel Service by 3.7% in the 1st quarter. Nvwm LLC now owns 2,685 shares of the transportation company’s stock worth $399,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Trading Down 2.7 %

UPS opened at $128.60 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a market cap of $110.02 billion, a P/E ratio of 18.64, a PEG ratio of 1.90 and a beta of 0.99. The business’s 50-day simple moving average is $130.18 and its 200-day simple moving average is $139.18.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data 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). United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company had revenue of $21.82 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the business posted $2.54 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that United Parcel Service, Inc. will post 7.43 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Monday, August 19th. United Parcel Service’s payout ratio is 94.49%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on UPS shares. Oppenheimer cut their target price on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Bank of America decreased their target price on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Susquehanna dropped their target price on United Parcel Service from $160.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, June 24th. Finally, TD Cowen started coverage on shares of United Parcel Service in a report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus target price of $149.68.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now directly owns 5,160 shares in the company, valued at $663,627.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.