Freestone Capital Holdings LLC lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 113.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,628 shares of the transportation company’s stock after buying an additional 5,121 shares during the period. Freestone Capital Holdings LLC’s holdings in United Parcel Service were worth $1,076,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Penserra Capital Management LLC grew its holdings in shares of United Parcel Service by 24.7% in the 1st quarter. Penserra Capital Management LLC now owns 1,708 shares of the transportation company’s stock worth $180,000 after acquiring an additional 338 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in United Parcel Service during the 1st quarter valued at $223,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in United Parcel Service by 61.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 60,125 shares of the transportation company’s stock valued at $6,718,000 after buying an additional 22,925 shares during the last quarter. Dean Investment Associates LLC grew its holdings in United Parcel Service by 6.8% during the 1st quarter. Dean Investment Associates LLC now owns 27,478 shares of the transportation company’s stock valued at $3,070,000 after buying an additional 1,760 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas grew its holdings in United Parcel Service by 3.8% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 144,962 shares of the transportation company’s stock valued at $16,198,000 after buying an additional 5,289 shares during the last quarter. 55.48% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Berenberg Bank upgraded United Parcel Service from a “hold” rating to a “buy” rating and increased their target price for the company from $125.00 to $130.00 in a report on Monday, April 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $114.00 target price on shares of United Parcel Service in a research report on Wednesday, March 6th. Cowen reissued a “market perform” rating and issued a $116.00 price objective (down from $118.00) on shares of United Parcel Service in a research report on Friday, April 26th. Argus reissued a “buy” rating on shares of United Parcel Service in a research report on Tuesday, April 30th. Finally, Zacks Investment Research lowered United Parcel Service from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $119.05.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.03). United Parcel Service had a return on equity of 205.26% and a net margin of 6.34%. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $17.79 billion. During the same quarter last year, the business posted $1.55 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts predict that United Parcel Service, Inc. will post 7.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Monday, May 20th were paid a $0.96 dividend. The ex-dividend date was Friday, May 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.72%. United Parcel Service’s payout ratio is currently 53.04%.
In other United Parcel Service news, SVP Norman M. Brothers, Jr. sold 1,500 shares of United Parcel Service stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $106.03, for a total value of $159,045.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.
United Parcel Service Company Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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