Stock Yards Bank & Trust Co. boosted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,485 shares of the transportation company’s stock after acquiring an additional 7,157 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in United Parcel Service were worth $17,024,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of UPS. Hoylecohen LLC bought a new stake in United Parcel Service during the 1st quarter worth approximately $3,238,000. Optiver Holding B.V. bought a new stake in shares of United Parcel Service in the 1st quarter valued at $35,000. Colony Group LLC boosted its stake in shares of United Parcel Service by 525.0% in the 1st quarter. Colony Group LLC now owns 18,049 shares of the transportation company’s stock valued at $3,068,000 after purchasing an additional 15,161 shares during the last quarter. Tectonic Advisors LLC bought a new stake in shares of United Parcel Service in the 1st quarter valued at $241,000. Finally, Pendal Group Limited boosted its stake in shares of United Parcel Service by 216.3% in the 1st quarter. Pendal Group Limited now owns 6,269 shares of the transportation company’s stock valued at $1,066,000 after purchasing an additional 4,287 shares during the last quarter. 56.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Bank of America upped their price objective on shares of United Parcel Service from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. UBS Group restated a “buy” rating on shares of United Parcel Service in a report on Tuesday, August 17th. Barclays increased their target price on shares of United Parcel Service from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Wednesday, October 27th. Morgan Stanley increased their target price on shares of United Parcel Service from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 27th. Finally, Raymond James raised their price objective on shares of United Parcel Service from $240.00 to $260.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $213.16.
United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, October 26th. The transportation company reported $2.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.16. United Parcel Service had a return on equity of 127.98% and a net margin of 6.92%. The company had revenue of $23.18 billion during the quarter, compared to analysts’ expectations of $22.57 billion. During the same period in the prior year, the business earned $2.28 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, research analysts expect that United Parcel Service, Inc. will post 11.58 earnings per share for the current year.
United Parcel Service declared that its board has approved a share repurchase plan on Thursday, August 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 8th. Shareholders of record on Monday, November 22nd will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Friday, November 19th. This represents a $4.08 annualized dividend and a yield of 1.96%. United Parcel Service’s dividend payout ratio (DPR) is 54.99%.
United Parcel Service Profile
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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