Veritas Investment Management UK Ltd Cuts Holdings in United Parcel Service, Inc. (UPS)

Veritas Investment Management UK Ltd lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 83.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the transportation company’s stock after selling 6,720 shares during the quarter. Veritas Investment Management UK Ltd’s holdings in United Parcel Service were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Wealth Management LLC acquired a new stake in United Parcel Service during the second quarter valued at approximately $102,000. First PREMIER Bank raised its stake in United Parcel Service by 5.0% during the second quarter. First PREMIER Bank now owns 1,047 shares of the transportation company’s stock valued at $116,000 after buying an additional 50 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in United Parcel Service by 17.3% during the first quarter. Parkside Financial Bank & Trust now owns 1,087 shares of the transportation company’s stock valued at $116,000 after buying an additional 160 shares in the last quarter. Ullmann Financial Group Inc. acquired a new stake in United Parcel Service during the first quarter valued at approximately $126,000. Finally, Winslow Evans & Crocker Inc. raised its stake in United Parcel Service by 261.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,243 shares of the transportation company’s stock valued at $137,000 after buying an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 52.87% of the company’s stock.

A number of analysts have recently weighed in on UPS shares. Zacks Investment Research upgraded United Parcel Service from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a research report on Friday, October 6th. Cowen and Company reiterated a “hold” rating on shares of United Parcel Service in a research report on Wednesday, July 19th. BidaskClub cut United Parcel Service from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Robert W. Baird reiterated a “hold” rating and set a $118.00 price target on shares of United Parcel Service in a research report on Friday, August 25th. Finally, J P Morgan Chase & Co increased their price target on United Parcel Service from $113.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $119.11.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, October 26th. The transportation company reported $1.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.45. United Parcel Service had a net margin of 7.91% and a return on equity of 364.35%. The company had revenue of $15.98 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. United Parcel Service’s quarterly revenue was up 7.0% compared to the same quarter last year.

In other news, EVP Alan Gershenhorn sold 17,699 shares of United Parcel Service stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $114.10, for a total value of $2,019,455.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

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United Parcel Service Profile

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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