Frank Rimerman Advisors LLC Reduces Stake in United Parcel Service, Inc. (NYSE:UPS)

Frank Rimerman Advisors LLC cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,314 shares of the transportation company’s stock after selling 539 shares during the period. Frank Rimerman Advisors LLC’s holdings in United Parcel Service were worth $2,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TruNorth Capital Management LLC bought a new position in United Parcel Service in the 2nd quarter worth $28,000. Riverview Trust Co bought a new position in United Parcel Service in the second quarter worth about $32,000. Centerpoint Advisors LLC raised its stake in United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in United Parcel Service by 168.5% in the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after buying an additional 155 shares during the period. Finally, PSI Advisors LLC grew its holdings in shares of United Parcel Service by 408.2% during the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock worth $34,000 after acquiring an additional 200 shares during the period. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Down 0.7 %

UPS opened at $137.43 on Friday. The stock has a market capitalization of $117.72 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.93 and a beta of 0.99. The firm has a 50 day moving average price of $130.89 and a 200-day moving average price of $135.98. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.10 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 EPS. Equities research analysts forecast that United Parcel Service, Inc. will post 7.44 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.74%. United Parcel Service’s payout ratio is 106.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UPS shares. JPMorgan Chase & Co. dropped their price target on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research report on Friday. Stephens dropped their target price on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Barclays reiterated an “underweight” rating and issued a $120.00 price target on shares of United Parcel Service in a research note on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen started coverage on shares of United Parcel Service in a research note on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.43.

About United Parcel Service

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.