Eastern Bank Sells 471 Shares of United Parcel Service, Inc. $UPS

by · The Cerbat Gem

Eastern Bank decreased its position in United Parcel Service, Inc. (NYSE:UPSFree Report) by 11.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,525 shares of the transportation company’s stock after selling 471 shares during the quarter. Eastern Bank’s holdings in United Parcel Service were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UPS. Founders Capital Management LLC lifted its stake in United Parcel Service by 8.3% in the second quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock worth $11,245,000 after purchasing an additional 8,579 shares during the last quarter. Gallacher Capital Management LLC bought a new stake in United Parcel Service in the first quarter worth $620,000. Garde Capital Inc. bought a new stake in shares of United Parcel Service in the 1st quarter valued at about $37,000. Capital CS Group LLC lifted its stake in shares of United Parcel Service by 3.6% in the 2nd quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock valued at $23,730,000 after acquiring an additional 8,070 shares during the last quarter. Finally, CX Institutional lifted its stake in shares of United Parcel Service by 39.9% in the 2nd quarter. CX Institutional now owns 60,165 shares of the transportation company’s stock valued at $6,073,000 after acquiring an additional 17,152 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley lowered their price objective on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of United Parcel Service in a report on Wednesday, October 8th. Vertical Research reiterated a “hold” rating and set a $103.00 price target on shares of United Parcel Service in a report on Wednesday, July 30th. Wolfe Research lowered their price objective on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, July 1st. Finally, Susquehanna lowered their price objective on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, United Parcel Service presently has an average rating of “Hold” and an average price target of $109.38.

Get Our Latest Stock Report on UPS

United Parcel Service Stock Down 2.7%

Shares of United Parcel Service stock opened at $82.97 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50-day moving average of $85.74 and a 200 day moving average of $94.22. The firm has a market cap of $70.32 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.53 and a beta of 1.10. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01.

United Parcel Service (NYSE:UPSGet Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the prior year, the business posted $1.79 EPS. United Parcel Service’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.9%. United Parcel Service’s payout ratio is presently 97.62%.

Insider Buying and Selling at United Parcel Service

In related news, Director Christiana Smith Shi acquired 500 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the purchase, the director owned 500 shares of the company’s stock, valued at $44,085. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carol B. Tome purchased 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the acquisition, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by insiders.

United Parcel Service Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPSFree Report).