Biltmore Wealth Management LLC Increases Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Biltmore Wealth Management LLC boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 46.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,463 shares of the transportation company’s stock after purchasing an additional 1,732 shares during the period. Biltmore Wealth Management LLC’s holdings in United Parcel Service were worth $745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in shares of United Parcel Service in the second quarter worth $28,000. Security National Bank purchased a new position in shares of United Parcel Service in the fourth quarter valued at about $31,000. Pineridge Advisors LLC purchased a new position in shares of United Parcel Service in the fourth quarter valued at about $31,000. Riverview Trust Co bought a new position in shares of United Parcel Service in the second quarter worth about $32,000. Finally, Centerpoint Advisors LLC grew its position in shares of United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson acquired 5,000 shares of the 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 acquisition, the director now owns 5,160 shares in the company, valued at approximately $663,627.60. This represents a 3,100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on UPS shares. UBS Group decreased their price target on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America dropped their price target on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Barclays lowered their target price 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. Evercore ISI decreased 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 note on Monday, June 24th. Finally, Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.68.

United Parcel Service Stock Performance

Shares of NYSE UPS traded up $0.53 during midday trading on Friday, reaching $131.25. The company had a trading volume of 3,270,680 shares, compared to its average volume of 4,256,409. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The business’s 50-day simple moving average is $128.89 and its 200 day simple moving average is $137.87. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock has a market cap of $112.29 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.96 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last issued its 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 firm had revenue of $21.82 billion during 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%. United Parcel Service’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 EPS. On average, 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 paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.97%. United Parcel Service’s payout ratio is currently 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.