Atlantic Union Bankshares Corp Cuts Holdings in United Parcel Service, Inc. (NYSE:UPS)

Atlantic Union Bankshares Corp lessened its stake in United Parcel Service, Inc. (NYSE:UPS) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,721 shares of the transportation company’s stock after selling 1,037 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in United Parcel Service were worth $2,961,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LRI Investments LLC acquired a new stake in United Parcel Service in the first quarter valued at $54,000. Cetera Advisors LLC raised its position in shares of United Parcel Service by 77.7% during the 1st quarter. Cetera Advisors LLC now owns 58,560 shares of the transportation company’s stock worth $8,704,000 after acquiring an additional 25,600 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in United Parcel Service by 28.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 301,321 shares of the transportation company’s stock worth $44,149,000 after purchasing an additional 66,995 shares during the last quarter. GAMMA Investing LLC boosted its holdings in United Parcel Service by 64.3% in the second quarter. GAMMA Investing LLC now owns 5,394 shares of the transportation company’s stock valued at $738,000 after purchasing an additional 2,111 shares in the last quarter. Finally, M&R Capital Management Inc. increased its stake in United Parcel Service by 35.8% in the second quarter. M&R Capital Management Inc. now owns 607 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 160 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPS has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their target price on United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their target price on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Citigroup dropped their price target on United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.52.

United Parcel Service Stock Performance

NYSE UPS opened at $135.85 on Friday. The stock has a market capitalization of $115.93 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.23 and a beta of 0.99. The business’s 50 day moving average is $133.55 and its two-hundred day moving average is $133.87. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. United Parcel Service’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts expect that United Parcel Service, Inc. will post 7.48 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio is currently 98.49%.

Insiders Place Their Bets

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the sale, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

United Parcel Service Company Profile

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.