Garner Asset Management Corp Acquires 2,734 Shares of United Parcel Service, Inc. (NYSE:UPS)

Garner Asset Management Corp boosted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 28.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,452 shares of the transportation company’s stock after purchasing an additional 2,734 shares during the quarter. Garner Asset Management Corp’s holdings in United Parcel Service were worth $1,704,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. grew its stake 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 acquiring 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% in the second quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock worth $694,000 after purchasing an additional 69 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of United Parcel Service by 2.2% in the first quarter. Versant Capital Management Inc now owns 3,212 shares of the transportation company’s stock worth $477,000 after buying an additional 70 shares in the last quarter. Moody National Bank Trust Division boosted its stake in United Parcel Service by 0.8% during the first quarter. Moody National Bank Trust Division now owns 9,113 shares of the transportation company’s stock valued at $1,354,000 after buying an additional 71 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in United Parcel Service by 2.1% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock valued at $519,000 after buying an additional 73 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now directly 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 at this hyperlink. 0.13% of the stock is owned by company insiders.

United Parcel Service Price Performance

Shares of UPS stock opened at $130.69 on Thursday. The stock’s 50-day moving average is $130.58 and its 200 day moving average is $139.55. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $111.94 billion, a P/E ratio of 18.94, a PEG ratio of 1.90 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share 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 the consensus estimate of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.54 earnings per share. Research analysts predict that United Parcel Service, Inc. will post 7.43 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. 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 94.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UPS shares. Bank of America decreased their price target on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. 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. Evercore ISI decreased their price objective on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their target price on United Parcel Service from $150.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, TD Cowen initiated coverage on United Parcel Service in a report on Thursday, August 22nd. They set a “hold” rating and a $144.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus target price 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.