United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Sheets Smith Wealth Management

by · The Cerbat Gem

Sheets Smith Wealth Management lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 90.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,828 shares of the transportation company’s stock after selling 16,600 shares during the period. Sheets Smith Wealth Management’s holdings in United Parcel Service were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blackston Financial Advisory Group LLC raised its position in United Parcel Service by 1.4% in the second quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock valued at $694,000 after purchasing an additional 69 shares during the period. Cigna Investments Inc. New lifted its position in United Parcel Service by 1.0% during the 3rd quarter. Cigna Investments Inc. New now owns 7,508 shares of the transportation company’s stock worth $1,024,000 after acquiring an additional 75 shares in the last quarter. Gleason Group Inc. lifted its position in United Parcel Service by 1.2% during the 2nd quarter. Gleason Group Inc. now owns 6,496 shares of the transportation company’s stock worth $889,000 after acquiring an additional 77 shares in the last quarter. Rogco LP boosted its holdings in United Parcel Service by 1.9% in the 1st quarter. Rogco LP now owns 4,206 shares of the transportation company’s stock worth $625,000 after acquiring an additional 78 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in United Parcel Service by 0.5% in the second quarter. Nicholas Hoffman & Company LLC. now owns 15,837 shares of the transportation company’s stock valued at $2,167,000 after acquiring an additional 79 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

UPS opened at $132.44 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $132.06 and its 200-day moving average is $135.20. The stock has a market cap of $113.45 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82.

United Parcel Service (NYSE:UPS – Get Free Report) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.92%. United Parcel Service’s dividend payout ratio (DPR) is 98.49%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UPS shares. BMO Capital Markets decreased their target price on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. Bank of America lifted their target price on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Barclays restated an “underweight” rating and set a $120.00 price objective on shares of United Parcel Service in a report on Monday, October 21st. Finally, Citigroup assumed coverage on United Parcel Service in a research note on Wednesday, October 9th. They set a “buy” rating and a $162.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.71.

View Our Latest Stock Analysis on UPS

About United Parcel Service

(Free Report)

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.

Read More

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS – Free Report).