Park National Corp OH lowered its holdings in United Parcel Service, Inc. (NYSE:UPS) by 10.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,085 shares of the transportation company’s stock after selling 3,195 shares during the quarter. Park National Corp OH’s holdings in United Parcel Service were worth $4,774,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of UPS. Arrowstreet Capital Limited Partnership purchased a new stake in United Parcel Service in the third quarter valued at $467,000. Allianz Asset Management GmbH raised its holdings in shares of United Parcel Service by 135.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 30,112 shares of the transportation company’s stock valued at $5,018,000 after buying an additional 114,198 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of United Parcel Service in the 3rd quarter valued at $900,000. ExodusPoint Capital Management LP purchased a new stake in shares of United Parcel Service in the 3rd quarter valued at $3,706,000. Finally, First City Capital Management Inc. purchased a new stake in shares of United Parcel Service in the 3rd quarter valued at $217,000. Institutional investors own 55.68% of the company’s stock.
In related news, insider Norman M. Brothers, Jr. sold 13,337 shares of the company’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $159.64, for a total value of $2,129,118.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne M. Hewett acquired 625 shares of the firm’s stock in a transaction on Wednesday, February 24th. The shares were bought at an average cost of $159.82 per share, with a total value of $99,887.50. Following the completion of the transaction, the director now directly owns 868 shares in the company, valued at approximately $138,723.76. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.
United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, February 2nd. The transportation company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.52. The firm had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $22.85 billion. United Parcel Service had a return on equity of 161.20% and a net margin of 5.71%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 EPS. On average, equities research analysts predict that United Parcel Service, Inc. will post 7.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Monday, February 22nd were given a $1.02 dividend. The ex-dividend date of this dividend was Friday, February 19th. This is a boost from United Parcel Service’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. United Parcel Service’s dividend payout ratio is 54.18%.
Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on United Parcel Service from $201.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, February 4th. Sanford C. Bernstein set a $200.00 price objective on United Parcel Service and gave the company a “buy” rating in a report on Wednesday, February 24th. Vertical Research initiated coverage on United Parcel Service in a report on Thursday, April 1st. They set a “buy” rating and a $195.00 price target on the stock. TheStreet downgraded United Parcel Service from an “a-” rating to a “c” rating in a report on Tuesday, February 2nd. Finally, Wells Fargo & Company upped their price target on United Parcel Service from $184.00 to $193.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $160.13.
About United Parcel Service
United Parcel Service, Inc provides letter and package delivery, transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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