United Parcel Service, Inc. $UPS Shares Purchased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,932 shares of the transportation company’s stock after purchasing an additional 173 shares during the quarter. Palumbo Wealth Management LLC’s holdings in United Parcel Service were worth $296,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Founders Capital Management LLC grew its position in shares of United Parcel Service by 8.3% in the second quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock valued at $11,245,000 after purchasing an additional 8,579 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in United Parcel Service during the 1st quarter valued at $620,000. Garde Capital Inc. purchased a new position in United Parcel Service during the first quarter worth $37,000. Capital CS Group LLC increased its position in United Parcel Service by 3.6% during the second quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock worth $23,730,000 after buying an additional 8,070 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in United Parcel Service by 61.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company’s stock worth $173,000 after purchasing an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Transactions at United Parcel Service

In other news, Director Christiana Smith Shi acquired 500 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at $44,085. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carol B. Tome bought 11,682 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the acquisition, the chief executive officer owned 24,718 shares of the company’s stock, valued at $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 17,182 shares of company stock valued at $1,477,382. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 30th. Citigroup reduced their price objective on shares of United Parcel Service from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. UBS Group decreased their target price on shares of United Parcel Service from $124.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. cut their price target on United Parcel Service from $110.00 to $107.00 and set a “neutral” rating for the company in a report on Tuesday, July 8th. Finally, Wall Street Zen cut United Parcel Service from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.44.

United Parcel Service Trading Down 0.5%

UPS opened at $83.98 on Thursday. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $145.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $71.18 billion, a PE ratio of 12.50, a P/E/G ratio of 1.56 and a beta of 1.08. The firm’s fifty day moving average price is $88.55 and its 200 day moving average price is $97.06.

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

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service’s payout ratio is currently 97.62%.

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.