United Parcel Service, Inc. $UPS Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 7.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 72,382 shares of the transportation company’s stock after selling 5,637 shares during the quarter. Cullinan Associates Inc.’s holdings in United Parcel Service were worth $7,306,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bangor Savings Bank lifted its position in shares of United Parcel Service by 1.9% in the 2nd quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock valued at $546,000 after acquiring an additional 101 shares in the last quarter. First Dallas Securities Inc. boosted its position in shares of United Parcel Service by 0.9% in the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock worth $1,256,000 after buying an additional 102 shares during the period. TCV Trust & Wealth Management Inc. grew its holdings in shares of United Parcel Service by 1.4% during the first quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company’s stock valued at $830,000 after buying an additional 103 shares in the last quarter. Fortis Capital Advisors LLC raised its position in United Parcel Service by 3.4% during the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock valued at $350,000 after buying an additional 104 shares during the period. Finally, Wright Investors Service Inc. lifted its stake in United Parcel Service by 1.3% in the 2nd quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock worth $793,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insiders Place Their Bets

In other United Parcel Service news, CEO Carol B. Tome acquired 11,682 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the transaction, the chief executive officer owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Johnson bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the purchase, the director owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 17,182 shares of company stock valued at $1,477,382 in the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UPS. JPMorgan Chase & Co. reduced their price target on shares of United Parcel Service from $110.00 to $107.00 and set a “neutral” rating for the company in a research report on Tuesday, July 8th. Bank of America decreased their target price on shares of United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Barclays dropped their price target on shares of United Parcel Service from $90.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company lowered their target price on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $96.00 price target (down from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.16.

United Parcel Service Stock Performance

Shares of NYSE UPS opened at $86.79 on Monday. The business’s 50-day simple moving average is $86.20 and its 200-day simple moving average is $95.17. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01. The firm has a market cap of $73.56 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the previous year, the company earned $1.79 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service’s dividend payout ratio (DPR) is 97.62%.

About United Parcel Service

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.