Blume Capital Management Inc. Acquires New Position in United Parcel Service, Inc. (NYSE:UPS)

Blume Capital Management Inc. bought a new position in United Parcel Service, Inc. (NYSE:UPS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 439 shares of the transportation company’s stock, valued at approximately $91,000.

A number of other hedge funds also recently modified their holdings of UPS. Keel Point LLC bought a new position in shares of United Parcel Service during the second quarter valued at approximately $562,000. BDO Wealth Advisors LLC boosted its holdings in shares of United Parcel Service by 131.3% during the first quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 88 shares during the period. Corbenic Partners LLC acquired a new position in shares of United Parcel Service during the second quarter valued at $33,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of United Parcel Service during the first quarter worth about $34,000. Finally, Robbins Farley LLC acquired a new stake in shares of United Parcel Service in the 1st quarter worth about $44,000. Institutional investors own 56.98% of the company’s stock.

Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of United Parcel Service from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Thursday, June 10th. Citigroup lifted their target price on United Parcel Service from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, June 1st. KeyCorp increased their price target on United Parcel Service from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 26th. Barclays raised their price target on United Parcel Service from $205.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, June 8th. Finally, Zacks Investment Research downgraded shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a report on Tuesday, June 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, United Parcel Service presently has a consensus rating of “Buy” and a consensus target price of $205.75.

Shares of UPS traded up $1.34 during mid-day trading on Wednesday, reaching $192.35. The company’s stock had a trading volume of 10,606 shares, compared to its average volume of 3,354,216. The company has a market cap of $167.54 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The business has a fifty day moving average of $198.82 and a 200 day moving average of $193.90. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.94. United Parcel Service, Inc. has a 1 year low of $154.76 and a 1 year high of $219.59.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 27th. The transportation company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.25. United Parcel Service had a return on equity of 155.54% and a net margin of 6.66%. The firm had revenue of $23.42 billion during the quarter, compared to the consensus estimate of $23.17 billion. During the same period in the prior year, the business earned $2.13 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts predict that United Parcel Service, Inc. will post 11.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Investors of record on Monday, August 23rd were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, August 20th. United Parcel Service’s dividend payout ratio is currently 49.57%.

United Parcel Service announced that its board has initiated a share repurchase program on Thursday, August 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

United Parcel Service Company Profile

United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.

Further Reading: Dual Listing What You Need to Know

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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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