Legacy Capital Wealth Partners LLC Reduces Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Legacy Capital Wealth Partners LLC lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 26.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,874 shares of the transportation company’s stock after selling 2,092 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in United Parcel Service were worth $924,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in United Parcel Service by 15,631.2% during the fourth quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock valued at $2,280,190,000 after buying an additional 14,410,073 shares during the period. Wellington Management Group LLP boosted its stake in United Parcel Service by 31.7% during the third quarter. Wellington Management Group LLP now owns 9,677,202 shares of the transportation company’s stock valued at $1,508,385,000 after buying an additional 2,331,875 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in United Parcel Service by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,889,570 shares of the transportation company’s stock valued at $2,456,055,000 after buying an additional 628,944 shares during the period. Envestnet Asset Management Inc. boosted its stake in United Parcel Service by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,026,255 shares of the transportation company’s stock valued at $315,832,000 after buying an additional 541,163 shares during the period. Finally, American Century Companies Inc. boosted its stake in United Parcel Service by 28.0% during the third quarter. American Century Companies Inc. now owns 2,433,087 shares of the transportation company’s stock valued at $379,245,000 after buying an additional 532,934 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Argus downgraded United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. TheStreet upgraded United Parcel Service from a “c” rating to a “b-” rating in a research report on Tuesday, January 30th. HSBC upgraded United Parcel Service from a “hold” rating to a “buy” rating and raised their price target for the company from $150.00 to $170.00 in a research report on Thursday. BMO Capital Markets raised their price target on United Parcel Service from $165.00 to $169.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, TD Cowen decreased their price objective on United Parcel Service from $147.00 to $140.00 and set a “hold” rating on the stock in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $165.23.

United Parcel Service Stock Up 0.1 %

Shares of UPS traded up $0.20 during mid-day trading on Friday, reaching $147.59. The company had a trading volume of 2,607,558 shares, compared to its average volume of 3,897,331. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day moving average price of $149.56 and a 200 day moving average price of $150.93. United Parcel Service, Inc. has a 52 week low of $133.68 and a 52 week high of $192.98. The company has a market capitalization of $125.84 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the previous year, the firm posted $2.20 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 8.23 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were issued a $1.63 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Friday, February 16th. United Parcel Service’s payout ratio is presently 94.49%.

Insider Buying and Selling

In other news, Director Eva C. Boratto acquired 1,400 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average cost of $142.30 per share, for a total transaction of $199,220.00. Following the acquisition, the director now directly owns 1,400 shares in the company, valued at $199,220. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

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.