1832 Asset Management L.P. Trims Stake in United Parcel Service, Inc. (NYSE:UPS)
1832 Asset Management L.P. decreased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 53.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 153,088 shares of the transportation company’s stock after selling 176,035 shares during the period. 1832 Asset Management L.P.’s holdings in United Parcel Service were worth $15,044,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. TD Capital Management LLC purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $28,000. Solstein Capital LLC purchased a new position in shares of United Parcel Service during the 4th quarter worth approximately $30,000. Pinnacle Holdings LLC purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $34,000. Total Clarity Wealth Management Inc. purchased a new stake in shares of United Parcel Service in the 4th quarter worth approximately $35,000. Finally, Red Door Wealth Management LLC purchased a new stake in shares of United Parcel Service in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 54.83% of the company’s stock.
Shares of United Parcel Service stock traded down $1.25 during trading on Friday, reaching $109.27. 31,129 shares of the stock traded hands, compared to its average volume of 4,628,465. The company has a market capitalization of $94.41 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.69 and a beta of 0.83. The business has a fifty day simple moving average of $100.31 and a two-hundred day simple moving average of $103.82. The company has a debt-to-equity ratio of 8.06, a current ratio of 1.22 and a quick ratio of 1.22. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $125.31.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.01 per share. The ex-dividend date was Friday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.70%. United Parcel Service’s payout ratio is 53.65%.
Several research firms recently weighed in on UPS. CSFB cut their price target on United Parcel Service from $105.00 to $101.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Berenberg Bank reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of United Parcel Service in a research report on Tuesday, April 28th. Standpoint Research raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Deutsche Bank raised United Parcel Service to a “buy” rating in a research report on Wednesday, June 17th. Finally, Citigroup upped their price objective on United Parcel Service from $101.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, June 15th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $111.19.
In other United Parcel Service news, CEO Carol B. Tome purchased 10,100 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $99.33 per share, with a total value of $1,003,233.00. Following the acquisition, the chief executive officer now owns 13,036 shares in the company, valued at $1,294,865.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by company insiders.
United Parcel Service Profile
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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