MAI Capital Management Sells 7,596 Shares of United Parcel Service, Inc. (NYSE:UPS)

MAI Capital Management lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,184 shares of the transportation company’s stock after selling 7,596 shares during the period. MAI Capital Management’s holdings in United Parcel Service were worth $7,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Ontario Teachers Pension Plan Board lifted its position in shares of United Parcel Service by 50.3% during the first quarter. Ontario Teachers Pension Plan Board now owns 5,853 shares of the transportation company’s stock worth $870,000 after purchasing an additional 1,958 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in United Parcel Service by 6.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 46,870 shares of the transportation company’s stock valued at $6,966,000 after buying an additional 3,003 shares in the last quarter. Bessemer Group Inc. increased its position in shares of United Parcel Service by 128.8% during the first quarter. Bessemer Group Inc. now owns 36,805 shares of the transportation company’s stock worth $5,470,000 after acquiring an additional 20,717 shares during the period. Lake Street Advisors Group LLC raised its stake in shares of United Parcel Service by 51.0% during the first quarter. Lake Street Advisors Group LLC now owns 5,182 shares of the transportation company’s stock valued at $770,000 after acquiring an additional 1,751 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of United Parcel Service by 0.4% during the first quarter. National Bank of Canada FI now owns 342,024 shares of the transportation company’s stock valued at $50,403,000 after acquiring an additional 1,286 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on UPS. Baird R W upgraded United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of United Parcel Service in a research note on Monday, October 21st. Citigroup cut their target price on shares of United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.52.

United Parcel Service Trading Up 2.0 %

NYSE UPS opened at $135.13 on Tuesday. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The company has a fifty day simple moving average of $132.63 and a two-hundred day simple moving average of $134.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. The stock has a market cap of $115.32 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.20 and a beta of 0.99.

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

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio is presently 98.49%.

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.