Busey Trust CO purchased a new stake in shares of United Parcel Service, Inc. (NYSE:UPS) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,939 shares of the transportation company’s stock, valued at approximately $226,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UPS. Vulcan Value Partners LLC purchased a new position in United Parcel Service during the 2nd quarter valued at approximately $308,056,000. Mainstay Capital Management LLC ADV grew its holdings in United Parcel Service by 4,846.8% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 890,030 shares of the transportation company’s stock valued at $9,208,000 after buying an additional 872,038 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of United Parcel Service by 10,460.5% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 852,658 shares of the transportation company’s stock worth $8,053,000 after purchasing an additional 844,584 shares during the period. Acadian Asset Management LLC purchased a new position in shares of United Parcel Service in the 2nd quarter worth approximately $77,014,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of United Parcel Service in the 2nd quarter worth approximately $62,422,000. Institutional investors and hedge funds own 53.96% of the company’s stock.
In related news, insider George Willis sold 4,312 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $121.34, for a total transaction of $523,218.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kathleen M. Gutmann sold 1,700 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $119.92, for a total value of $203,864.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,512 shares of company stock valued at $1,031,932. 0.56% of the stock is owned by company insiders.
UPS opened at $115.64 on Friday. United Parcel Service, Inc. has a 52-week low of $101.45 and a 52-week high of $135.53. The company has a debt-to-equity ratio of 8.54, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $100.45 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Wednesday, July 25th. The transportation company reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.01. United Parcel Service had a return on equity of 364.89% and a net margin of 7.49%. The company had revenue of $17.46 billion during the quarter, compared to analysts’ expectations of $17.34 billion. During the same quarter in the previous year, the business earned $1.58 EPS. United Parcel Service’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.25 earnings per share for the current fiscal year.
A number of brokerages have recently commented on UPS. BMO Capital Markets lifted their target price on United Parcel Service to $128.00 and gave the stock a “market perform” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded United Parcel Service from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Friday. Cowen reiterated a “hold” rating and issued a $128.00 target price on shares of United Parcel Service in a report on Thursday, July 26th. ValuEngine cut United Parcel Service from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Morgan Stanley lifted their target price on United Parcel Service from $92.00 to $93.00 and gave the stock a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. United Parcel Service presently has a consensus rating of “Hold” and an average price target of $125.49.
About United Parcel Service
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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