Precedent Wealth Partners LLC Buys 2,519 Shares of United Parcel Service, Inc. $UPS

Precedent Wealth Partners LLC raised its stake in United Parcel Service, Inc. (NYSE:UPS) by 26.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,006 shares of the transportation company’s stock after purchasing an additional 2,519 shares during the quarter. Precedent Wealth Partners LLC’s holdings in United Parcel Service were worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of UPS. Goldman Sachs Group Inc. lifted its position in shares of United Parcel Service by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock valued at $991,132,000 after buying an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after buying an additional 3,961,255 shares during the last quarter. Nuveen LLC acquired a new stake in shares of United Parcel Service in the first quarter valued at approximately $201,358,000. Charles Schwab Investment Management Inc. lifted its position in shares of United Parcel Service by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock valued at $2,754,751,000 after buying an additional 1,780,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of United Parcel Service by 443.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after buying an additional 1,264,842 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

Insider Activity

In other United Parcel Service news, Director Christiana Smith Shi acquired 500 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were bought at an average cost of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director directly owned 500 shares of the company’s stock, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the purchase, the director directly 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 have acquired 17,182 shares of company stock valued at $1,477,382 in the last ninety days. 0.13% of the stock is owned by company insiders.

United Parcel Service Trading Up 1.4%

Shares of UPS opened at $86.79 on Friday. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $145.01. The business’s fifty day moving average is $86.20 and its 200-day moving average is $95.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $73.56 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.58 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 EPS 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%.The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 earnings per share. Equities analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm 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 7.6%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service’s payout ratio is currently 97.62%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UPS. Galvan Research dropped their price target on United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a report on Monday, June 30th. Citigroup dropped their price target on United Parcel Service from $127.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Barclays dropped their price objective on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, July 31st. BNP Paribas Exane raised United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price objective for the company in a report on Thursday, July 3rd. Finally, Morgan Stanley dropped their price objective on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have given 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, United Parcel Service presently has a consensus rating of “Hold” and a consensus target price of $110.16.

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.