Smith Moore & CO. boosted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,952 shares of the transportation company’s stock after acquiring an additional 404 shares during the period. Smith Moore & CO.’s holdings in United Parcel Service were worth $1,030,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BDO Wealth Advisors LLC raised its position in United Parcel Service by 131.3% in the first quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 88 shares during the period. Corbenic Partners LLC acquired a new position in shares of United Parcel Service during the second quarter worth $33,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in United Parcel Service in the first quarter valued at $34,000. Optiver Holding B.V. purchased a new stake in United Parcel Service in the first quarter valued at $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in United Parcel Service in the first quarter valued at $43,000. 56.98% of the stock is currently owned by institutional investors and hedge funds.
NYSE UPS opened at $191.01 on Wednesday. The stock has a 50-day simple moving average of $198.82 and a 200 day simple moving average of $193.90. The company has a market capitalization of $166.38 billion, a PE ratio of 27.25, a P/E/G ratio of 1.49 and a beta of 1.06. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.94. United Parcel Service, Inc. has a 12 month low of $154.76 and a 12 month high of $219.59.
United Parcel Service declared that its board has authorized a stock repurchase program on Thursday, August 5th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were given a dividend of $1.02 per share. The ex-dividend date was Friday, August 20th. This represents a $4.08 annualized dividend and a dividend yield of 2.14%. United Parcel Service’s dividend payout ratio is currently 49.57%.
A number of research firms have recently issued reports on UPS. Morgan Stanley boosted their target price on United Parcel Service from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Thursday, June 10th. JPMorgan Chase & Co. set a $192.23 target price on United Parcel Service in a research report on Tuesday, July 27th. Credit Suisse Group cut their price target on United Parcel Service from $261.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, July 28th. Citigroup boosted their price target on United Parcel Service from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, June 1st. Finally, Berenberg Bank set a $150.00 target price on United Parcel Service and gave the company a “neutral” rating in a research note on Friday, May 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $205.75.
About United Parcel Service
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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