RNC Capital Management LLC Cuts Position in United Parcel Service, Inc. (NYSE:UPS)

RNC Capital Management LLC decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 305,530 shares of the transportation company’s stock after selling 84,770 shares during the period. United Parcel Service makes up about 2.1% of RNC Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. RNC Capital Management LLC’s holdings in United Parcel Service were worth $38,527,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UPS. State Street Corp grew its position in United Parcel Service by 2.1% in the third quarter. State Street Corp now owns 29,597,425 shares of the transportation company’s stock valued at $4,035,313,000 after acquiring an additional 613,409 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in United Parcel Service by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,927,607 shares of the transportation company’s stock valued at $2,989,609,000 after acquiring an additional 1,320,921 shares in the last quarter. Geode Capital Management LLC grew its position in United Parcel Service by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,289,624 shares of the transportation company’s stock valued at $2,080,170,000 after acquiring an additional 373,202 shares in the last quarter. International Assets Investment Management LLC grew its position in United Parcel Service by 15,779.6% in the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after acquiring an additional 14,539,321 shares in the last quarter. Finally, FMR LLC grew its position in United Parcel Service by 3.7% in the third quarter. FMR LLC now owns 10,627,550 shares of the transportation company’s stock valued at $1,448,960,000 after acquiring an additional 380,229 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup lowered their price objective on shares of United Parcel Service from $158.00 to $149.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Loop Capital decreased their price target on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday. UBS Group decreased their price target on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Argus raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer raised their price target on shares of United Parcel Service from $140.00 to $146.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service presently has an average rating of “Moderate Buy” and an average target price of $140.73.

Insiders Place Their Bets

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of United Parcel Service stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $138.57, for a total value of $1,015,025.25. Following the transaction, the insider now owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $113.47 on Friday. United Parcel Service, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $158.95. The firm’s 50-day simple moving average is $126.84 and its 200 day simple moving average is $129.57. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The stock has a market cap of $96.83 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.63 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the previous year, the company earned $2.47 EPS. Equities analysts expect that United Parcel Service, Inc. will post 8.61 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be given a $1.64 dividend. The ex-dividend date is Tuesday, February 18th. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a yield of 5.78%. United Parcel Service’s payout ratio is 96.45%.

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.