United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 24.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,805 shares of the transportation company’s stock after selling 591 shares during the quarter. Park Place Capital Corp’s holdings in United Parcel Service were worth $246,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. TruNorth Capital Management LLC purchased a new position in United Parcel Service in the second quarter worth $28,000. Pineridge Advisors LLC purchased a new position in United Parcel Service in the fourth quarter worth $31,000. Riverview Trust Co purchased a new position in United Parcel Service in the second quarter worth $32,000. Centerpoint Advisors LLC raised its position in United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Finally, Stephens Consulting LLC raised its position in United Parcel Service by 869.6% in the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock worth $33,000 after acquiring an additional 200 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UPS has been the subject of several research analyst reports. Bank of America cut their price objective on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Susquehanna dropped their price target 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. Barclays dropped their price target on United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Company dropped their price target on United Parcel Service from $156.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen assumed coverage on United Parcel Service in a research report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service presently has a consensus rating of “Moderate Buy” and a consensus price target 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 dated Thursday, July 25th. The stock was acquired at an average price 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. This trade represents a 3,100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

United Parcel Service Stock Down 0.2 %

Shares of NYSE:UPS opened at $130.96 on Wednesday. The stock’s 50-day moving average price is $128.95 and its two-hundred day moving average price is $137.47. The company has a current ratio of 1.25, a quick 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 market cap of $112.18 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.93 and a beta of 0.99.

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 the consensus estimate of $1.99 by ($0.20). United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The firm had revenue of $21.82 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts forecast that United Parcel Service, Inc. will post 7.43 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Monday, August 19th. United Parcel Service’s payout ratio is currently 94.49%.

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.