Field & Main Bank cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 6.2% in the third quarter, HoldingsChannel reports. The fund owned 2,880 shares of the transportation company’s stock after selling 190 shares during the period. Field & Main Bank’s holdings in United Parcel Service were worth $524,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in UPS. PrairieView Partners LLC bought a new position in shares of United Parcel Service in the third quarter worth about $27,000. Corbenic Partners LLC bought a new position in shares of United Parcel Service in the second quarter worth about $33,000. Optiver Holding B.V. acquired a new stake in shares of United Parcel Service during the 1st quarter worth approximately $35,000. Financial Insights Inc. acquired a new stake in shares of United Parcel Service during the 2nd quarter worth approximately $38,000. Finally, BDO Wealth Advisors LLC grew its position in shares of United Parcel Service by 56.1% during the 2nd quarter. BDO Wealth Advisors LLC now owns 242 shares of the transportation company’s stock worth $50,000 after buying an additional 87 shares during the period. 56.96% of the stock is owned by institutional investors.
Shares of UPS stock traded down $3.34 during trading on Thursday, reaching $208.47. The company’s stock had a trading volume of 2,518,700 shares, compared to its average volume of 3,202,358. The business has a fifty day moving average price of $198.31 and a 200-day moving average price of $201.70. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.73. The company has a market cap of $181.19 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. United Parcel Service, Inc. has a one year low of $154.76 and a one year high of $220.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Stockholders of record on Monday, November 22nd will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, November 19th. United Parcel Service’s dividend payout ratio is presently 54.99%.
United Parcel Service announced that its Board of Directors has approved a share buyback program on Thursday, August 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several equities research analysts have recently commented on UPS shares. Credit Suisse Group lowered their price target on shares of United Parcel Service from $261.00 to $240.00 and set an “outperform” rating for the company in a research report on Wednesday, July 28th. Bank of America lifted their price target on shares of United Parcel Service from $220.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 27th. Oppenheimer lifted their price target on shares of United Parcel Service from $222.00 to $236.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. KeyCorp boosted their price objective on shares of United Parcel Service from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 27th. Finally, Morgan Stanley boosted their price objective on shares of United Parcel Service from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $213.16.
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.
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