United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 7.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,978 shares of the transportation company’s stock after selling 235 shares during the period. Drive Wealth Management LLC’s holdings in United Parcel Service were worth $408,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in United Parcel Service by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,676,441 shares of the transportation company’s stock valued at $578,053,000 after acquiring an additional 200,297 shares during the period. United Services Automobile Association grew its position in shares of United Parcel Service by 235.3% in the fourth quarter. United Services Automobile Association now owns 237,333 shares of the transportation company’s stock valued at $37,316,000 after purchasing an additional 166,557 shares during the period. Natixis acquired a new stake in shares of United Parcel Service in the first quarter valued at about $121,000. Assetmark Inc. increased its stake in shares of United Parcel Service by 20.2% during the fourth quarter. Assetmark Inc. now owns 62,360 shares of the transportation company’s stock worth $9,805,000 after purchasing an additional 10,467 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of United Parcel Service by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after purchasing an additional 980,317 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets cut their price objective 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. Robert W. Baird dropped their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price objective on United Parcel Service from $156.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. UBS Group lowered their target price 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. Finally, Evercore ISI reduced their target price on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service currently has a consensus rating of “Moderate Buy” and an average target price of $151.20.

Insiders Place Their Bets

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $128.61 per share, for a total transaction of $643,050.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

United Parcel Service Stock Performance

NYSE UPS opened at $128.55 on Monday. The stock has a fifty day simple moving average of $132.47 and a 200-day simple moving average of $141.28. 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 $110.11 billion, a PE ratio of 18.63, a P/E/G ratio of 1.89 and a beta of 0.98. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $172.75.

United Parcel Service (NYSE:UPS) last announced its earnings results 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). The company had revenue of $21.82 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $2.54 EPS. Equities analysts anticipate that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is 94.49%.

United Parcel Service 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.