Absher Wealth Management LLC Boosts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

by · The Markets Daily

Absher Wealth Management LLC boosted its stake in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 26.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,643 shares of the transportation company’s stock after purchasing an additional 977 shares during the quarter. Absher Wealth Management LLC’s holdings in United Parcel Service were worth $633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its stake in United Parcel Service by 27.6% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,305 shares of the transportation company’s stock worth $314,000 after acquiring an additional 498 shares during the last quarter. Hi Line Capital Management LLC bought a new stake in United Parcel Service in the third quarter worth $5,994,000. Principal Securities Inc. grew its stake in shares of United Parcel Service by 77.7% in the 3rd quarter. Principal Securities Inc. now owns 41,075 shares of the transportation company’s stock worth $5,600,000 after buying an additional 17,963 shares in the last quarter. Cigna Investments Inc. New raised its position in shares of 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 valued at $1,024,000 after buying an additional 75 shares in the last quarter. Finally, Drexel Morgan & Co. bought a new position in shares of United Parcel Service in the 3rd quarter valued at about $14,965,000. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 0.8 %

Shares of NYSE UPS traded up $1.02 during mid-day trading on Friday, reaching $135.08. 179,653 shares of the company were exchanged, compared to its average volume of 4,184,747. The firm has a 50-day moving average of $131.38 and a 200 day moving average of $135.71. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The company has a quick ratio of 1.25, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The stock has a market cap of $115.71 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.20 and a beta of 0.99.

United Parcel Service (NYSE:UPS – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The firm had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.10 billion. During the same quarter in the previous year, the business posted $1.57 EPS. United Parcel Service’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that United Parcel Service, Inc. will post 7.47 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio is currently 98.49%.

Wall Street Analyst Weigh In

UPS has been the topic of a number of recent research reports. Citigroup initiated coverage on United Parcel Service in a research report on Wednesday, October 9th. They set a “buy” rating and a $162.00 price objective on the stock. BMO Capital Markets cut their price objective on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird reduced their target price on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Susquehanna increased their price objective on shares of United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays restated an “underweight” rating and set a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company 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.

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