Cannon Financial Strategists Inc. Buys Shares of 2,419 United Parcel Service, Inc. (NYSE:UPS)

Cannon Financial Strategists Inc. purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the second quarter, HoldingsChannel reports. The fund purchased 2,419 shares of the transportation company’s stock, valued at approximately $331,000.

Several other hedge funds also recently made changes to their positions in UPS. Pineridge Advisors LLC bought a new position in United Parcel Service in the fourth quarter valued at $31,000. Security National Bank acquired a new position in shares of United Parcel Service during the 4th quarter worth about $31,000. TruNorth Capital Management LLC bought a new position in shares of United Parcel Service in the 2nd quarter valued at about $28,000. Stephens Consulting LLC increased its position in shares of 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 bought a new stake in United Parcel Service during the second quarter worth about $32,000. 60.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

UPS has been the subject of a number of analyst reports. Oppenheimer decreased their price target on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company lowered their target price on shares of United Parcel Service from $156.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. UBS Group lowered their price objective 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 dropped their target price on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus price target of $149.68.

United Parcel Service Stock Down 2.2 %

UPS stock opened at $133.29 on Wednesday. The business’s fifty day moving average price is $128.69 and its two-hundred day moving average price is $138.10. The stock has a market capitalization of $114.04 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.98 and a beta of 0.99. United Parcel Service, Inc. has a fifty-two week low of $123.12 and a fifty-two week 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.

United Parcel Service (NYSE:UPS) last issued 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 return on equity of 35.27% and a net margin of 5.87%. The business had revenue of $21.82 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the firm earned $2.54 EPS. United Parcel Service’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, 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 business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio is currently 94.49%.

Insider Buying and Selling at United Parcel Service

In related news, Director William R. Johnson bought 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 25th. The shares were bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the acquisition, the director now owns 5,160 shares in the company, valued at approximately $663,627.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

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.