Bingham Private Wealth LLC Lowers Stake in United Parcel Service, Inc. $UPS

Bingham Private Wealth LLC reduced its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 10.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,733 shares of the transportation company’s stock after selling 317 shares during the period. Bingham Private Wealth LLC’s holdings in United Parcel Service were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Richwood Investment Advisors LLC boosted its stake in shares of United Parcel Service by 1.9% during the 2nd quarter. Richwood Investment Advisors LLC now owns 6,089 shares of the transportation company’s stock worth $615,000 after acquiring an additional 115 shares in the last quarter. Clark & Stuart Inc boosted its stake in shares of United Parcel Service by 5.8% during the 2nd quarter. Clark & Stuart Inc now owns 62,478 shares of the transportation company’s stock worth $6,307,000 after acquiring an additional 3,450 shares in the last quarter. Seamount Financial Group Inc. purchased a new stake in shares of United Parcel Service during the 2nd quarter worth about $401,000. KPP Advisory Services LLC boosted its stake in shares of United Parcel Service by 7.4% during the 2nd quarter. KPP Advisory Services LLC now owns 10,390 shares of the transportation company’s stock worth $1,049,000 after acquiring an additional 719 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of United Parcel Service by 6.7% during the 2nd quarter. Belpointe Asset Management LLC now owns 7,654 shares of the transportation company’s stock worth $773,000 after acquiring an additional 483 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on UPS. Wolfe Research lowered their target price on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parcel Service from $100.00 to $88.00 and set a “hold” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company decreased their price target on shares of 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. BNP Paribas raised shares of United Parcel Service to a “hold” rating in a research note on Thursday, July 3rd. Finally, Vertical Research reaffirmed a “hold” rating and issued a $103.00 price target on shares of United Parcel Service in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $110.16.

United Parcel Service Trading Down 0.2%

Shares of United Parcel Service stock opened at $86.61 on Tuesday. The firm has a market capitalization of $73.41 billion, a PE ratio of 12.89, a P/E/G ratio of 1.60 and a beta of 1.10. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01. The firm’s 50-day moving average price is $85.91 and its 200 day moving average price is $94.97. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 EPS. On average, sell-side analysts predict 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. Shareholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. United Parcel Service’s dividend payout ratio is presently 97.62%.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director Christiana Smith Shi acquired 500 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the acquisition, the director owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carol B. Tome acquired 11,682 shares of the business’s stock in a transaction 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 acquisition, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 17,182 shares of company stock worth $1,477,382. Insiders own 0.13% of the company’s stock.

United Parcel Service 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.