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

Sterneck Capital Management LLC reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,304 shares of the transportation company’s stock after selling 1,093 shares during the quarter. United Parcel Service comprises about 1.0% of Sterneck Capital Management LLC’s holdings, making the stock its 28th largest position. Sterneck Capital Management LLC’s holdings in United Parcel Service were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC acquired a new position in United Parcel Service during the 4th quarter valued at about $31,000. Security National Bank bought a new stake in shares of United Parcel Service during the fourth quarter worth approximately $31,000. TruNorth Capital Management LLC acquired a new position in United Parcel Service in the second quarter valued at approximately $28,000. Stephens Consulting LLC boosted its stake in United Parcel Service by 869.6% in the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Riverview Trust Co acquired a new stake in United Parcel Service during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insider Activity at United Parcel Service

In related news, Director William R. Johnson purchased 5,000 shares of the stock in a transaction on Thursday, July 25th. The shares were purchased at an average price 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 $663,627.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UPS. Stephens reduced 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. Oppenheimer reduced their target price on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. BMO Capital Markets lowered their price target on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Bank of America cut 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 report on Monday, July 22nd. Finally, Evercore ISI decreased their price objective on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Moderate Buy” and a consensus price target of $149.68.

United Parcel Service Price Performance

Shares of UPS opened at $130.69 on Friday. 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 stock has a market capitalization of $111.81 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a 50 day moving average of $128.85 and a 200-day moving average of $138.01.

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

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.99%. United Parcel Service’s payout ratio is presently 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.