New Wave Wealth Advisors LLC Invests $231,000 in United Parcel Service, Inc. (NYSE:UPS)

New Wave Wealth Advisors LLC purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,691 shares of the transportation company’s stock, valued at approximately $231,000.

A number of other hedge funds also recently modified their holdings of UPS. Wellington Management Group LLP lifted its holdings in United Parcel Service by 87.6% in the fourth quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock valued at $2,854,180,000 after buying an additional 8,475,698 shares during the period. Marshall Wace LLP raised its holdings in shares of United Parcel Service by 284.8% during the second quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock valued at $351,681,000 after purchasing an additional 1,901,914 shares during the period. Spirepoint Private Client LLC acquired a new position in shares of United Parcel Service during the first quarter valued at about $160,787,000. Confluence Investment Management LLC acquired a new position in shares of United Parcel Service during the first quarter valued at about $100,176,000. Finally, Interval Partners LP acquired a new position in shares of United Parcel Service during the first quarter valued at about $90,099,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insider Activity at United Parcel Service

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

United Parcel Service Stock Down 2.2 %

UPS opened at $133.29 on Wednesday. The stock has a market cap of $114.04 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.98 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $128.69 and its two-hundred day moving average price is $138.10. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The business had revenue of $21.82 billion for the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. As a group, equities analysts expect that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Monday, August 19th. United Parcel Service’s payout ratio is currently 94.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Stephens decreased their target price on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Oppenheimer decreased their target price on shares of United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Susquehanna decreased their target price on shares of 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. Finally, Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. 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 given a strong buy rating to the company. According to data from MarketBeat, United Parcel Service has an average rating of “Moderate Buy” and an average price target of $149.68.

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.