Perigon Wealth Management LLC Decreases Position in United Parcel Service, Inc. (NYSE:UPS)

Perigon Wealth Management LLC lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 30,829 shares of the transportation company’s stock after selling 2,906 shares during the quarter. Perigon Wealth Management LLC’s holdings in United Parcel Service were worth $4,847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. VisionPoint Advisory Group LLC bought a new position in United Parcel Service in the 2nd quarter valued at $25,000. OFI Invest Asset Management bought a new position in United Parcel Service in the 3rd quarter valued at $25,000. IMA Wealth Inc. boosted its holdings in United Parcel Service by 100.0% in the 2nd quarter. IMA Wealth Inc. now owns 142 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 71 shares during the period. Pacific Center for Financial Services bought a new position in United Parcel Service in the 1st quarter valued at $25,000. Finally, Worth Asset Management LLC bought a new position in United Parcel Service in the 1st quarter valued at $27,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director Eva C. Boratto bought 1,400 shares of United Parcel Service stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $142.30 per share, with a total value of $199,220.00. Following the completion of the acquisition, the director now owns 1,400 shares in the company, valued at $199,220. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on UPS. UBS Group raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and raised their price target for the company from $160.00 to $175.00 in a report on Tuesday, February 6th. TheStreet raised shares of United Parcel Service from a “c” rating to a “b-” rating in a report on Tuesday, January 30th. Susquehanna reaffirmed a “neutral” rating and set a $150.00 price objective on shares of United Parcel Service in a report on Wednesday, March 27th. Oppenheimer reaffirmed an “outperform” rating and set a $153.00 price objective on shares of United Parcel Service in a report on Wednesday, March 27th. Finally, Argus downgraded shares of United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $165.61.

United Parcel Service Stock Performance

United Parcel Service stock traded down $2.79 during midday trading on Friday, reaching $146.22. 682,239 shares of the company traded hands, compared to its average volume of 4,290,223. The firm has a market capitalization of $124.67 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The business has a 50 day moving average of $149.64 and a two-hundred day moving average of $151.64. United Parcel Service, Inc. has a 12 month low of $133.68 and a 12 month high of $197.80. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.10.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Tuesday, January 30th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.01. United Parcel Service had a net margin of 7.37% and a return on equity of 39.46%. The company had revenue of $24.92 billion for the quarter, compared to the consensus estimate of $25.40 billion. During the same quarter in the prior year, the firm earned $3.62 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, research analysts predict that United Parcel Service, Inc. will post 8.21 earnings per share for the current year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were issued a dividend of $1.63 per share. This is a boost from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Friday, February 16th. United Parcel Service’s dividend payout ratio is currently 83.70%.

United Parcel Service Company 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.