Raymond James & Associates Sells 256,128 Shares of United Parcel Service, Inc. (NYSE:UPS)

Raymond James & Associates decreased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 9.3% during the 3rd quarter, Holdings Channel reports. The fund owned 2,498,982 shares of the transportation company’s stock after selling 256,128 shares during the quarter. Raymond James & Associates’ holdings in United Parcel Service were worth $340,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UPS. TruNorth Capital Management LLC bought a new position in shares of United Parcel Service in the second quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of United Parcel Service in the second quarter valued at about $32,000. Centerpoint Advisors LLC boosted its position in shares of United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 175 shares during the period. Stephens Consulting LLC increased its stake in shares of United Parcel Service by 869.6% in the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after buying an additional 200 shares during the period. Finally, Tortoise Investment Management LLC increased its stake in shares of United Parcel Service by 168.5% in the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after buying an additional 155 shares during the period. Institutional investors own 60.26% of the company’s stock.

Insider Buying and Selling at United Parcel Service

In related news, Director William R. Johnson purchased 5,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the acquisition, the director now owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. This trade represents a 3,100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

United Parcel Service Stock Up 0.4 %

Shares of NYSE UPS traded up $0.52 during mid-day trading on Friday, hitting $135.93. 3,237,527 shares of the stock traded hands, compared to its average volume of 4,186,706. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82. The company has a market cap of $116.43 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.98 and a beta of 0.99. The stock has a fifty day moving average price of $130.21 and a 200-day moving average price of $136.66.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The company had revenue of $21.82 billion during the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. Research analysts anticipate that United Parcel Service, Inc. will post 7.43 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.80%. United Parcel Service’s payout ratio is currently 106.36%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Oppenheimer reduced their target price on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Citigroup assumed coverage on United Parcel Service in a report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 target price on the stock. The Goldman Sachs Group reduced their target price on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. UBS Group reduced their target price on United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price target on United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and an average target price of $151.24.

United Parcel Service Company Profile

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.