Cannon Financial Strategists Inc. Makes New $331,000 Investment in United Parcel Service, Inc. (NYSE:UPS)

Cannon Financial Strategists Inc. acquired a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,419 shares of the transportation company’s stock, valued at approximately $331,000.

A number of other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC bought a new position in United Parcel Service in the 4th quarter valued at $31,000. Security National Bank bought a new position in shares of United Parcel Service in the fourth quarter valued at about $31,000. TruNorth Capital Management LLC bought a new position in shares of United Parcel Service in the second quarter valued at about $28,000. Stephens Consulting LLC grew its holdings in United Parcel Service by 869.6% during the 1st quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in United Parcel Service during the 2nd quarter worth about $32,000. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of research reports. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Evercore ISI reduced their price objective on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, June 24th. Barclays cut their price target on United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets lowered their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus target price of $149.68.

United Parcel Service Price Performance

Shares of UPS stock opened at $133.29 on Wednesday. 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 12-month low of $123.12 and a 12-month high of $163.82. The firm has a fifty day moving average of $128.69 and a 200-day moving average of $138.10. The firm has a market capitalization of $114.04 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The business had revenue of $21.82 billion during the quarter, compared to the consensus estimate 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 revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 earnings per share. On average, equities research analysts forecast that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.89%. United Parcel Service’s dividend payout ratio (DPR) is currently 94.49%.

Insider Buying and Selling at United Parcel Service

In related news, Director William R. Johnson acquired 5,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the transaction, the director now directly owns 5,160 shares of the company’s stock, valued at $663,627.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

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.