Cornerstone Advisors LLC Lowers Holdings in United Parcel Service, Inc. (NYSE:UPS)

Cornerstone Advisors LLC lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 3.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 32,100 shares of the transportation company’s stock after selling 1,100 shares during the period. Cornerstone Advisors LLC’s holdings in United Parcel Service were worth $4,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of UPS. Pineridge Advisors LLC acquired a new position in United Parcel Service in the fourth quarter valued at approximately $31,000. Security National Bank acquired a new position in shares of United Parcel Service in the 4th quarter valued at $31,000. TruNorth Capital Management LLC purchased a new stake in United Parcel Service during the second quarter worth $28,000. Stephens Consulting LLC grew its position in United Parcel Service by 869.6% during 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, Riverview Trust Co purchased a new position in United Parcel Service in the second quarter valued at $32,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UPS. Barclays dropped their target price on United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. UBS Group dropped their price objective 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. Baird R W raised United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets dropped their price target on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price objective on shares of United Parcel Service from $156.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.68.

Insider Transactions at United Parcel Service

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were purchased at an average cost of $128.61 per share, for a total transaction 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. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $127.24 on Monday. The business’s 50 day moving average price is $130.88 and its 200 day moving average price is $139.88. The company has a market cap of $108.99 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.89 and a beta of 0.99. 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 one year low of $123.12 and a one year high of $163.82.

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

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 5.12%. United Parcel Service’s dividend payout ratio (DPR) is 94.49%.

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.