Sterneck Capital Management LLC Has $1.81 Million Stake in United Parcel Service, Inc. (NYSE:UPS)

Sterneck Capital Management LLC decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,304 shares of the transportation company’s stock after selling 1,093 shares during the quarter. United Parcel Service comprises 1.0% of Sterneck Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Sterneck Capital Management LLC’s holdings in United Parcel Service were worth $1,814,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. raised its holdings in 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 valued at $1,480,000 after buying an additional 68 shares in the last quarter. Blackston Financial Advisory Group LLC increased its holdings in shares of United Parcel Service by 1.4% during the 2nd quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock valued at $694,000 after acquiring an additional 69 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of United Parcel Service by 2.2% during the 1st quarter. Versant Capital Management Inc now owns 3,212 shares of the transportation company’s stock valued at $477,000 after acquiring an additional 70 shares during the last quarter. Moody National Bank Trust Division raised its stake in shares of 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 acquiring an additional 71 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in United Parcel Service by 2.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock worth $519,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insider Activity

In other news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average cost of $128.61 per share, with a total value of $643,050.00. Following the completion of the purchase, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UPS has been the topic of several analyst reports. Robert W. Baird lowered their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Barclays dropped their target price 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 lowered their price target 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. Stifel Nicolaus cut their price objective on United Parcel Service from $170.00 to $151.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Susquehanna lowered their target price 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 research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.68.

United Parcel Service Stock Performance

NYSE UPS opened at $130.69 on Friday. The stock has a market cap of $111.81 billion, a P/E ratio of 18.94, 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. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82. The company’s 50-day simple moving average is $128.85 and its 200 day simple moving average is $138.01.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The company had revenue of $21.82 billion during 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 company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 earnings per share. As a group, research analysts forecast 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. 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 dividend on an annualized basis and a dividend yield of 4.99%. United Parcel Service’s payout ratio is presently 94.49%.

United Parcel Service Company 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.