Byrne Asset Management LLC Decreases Stake in United Parcel Service, Inc. (NYSE:UPS)

Byrne Asset Management LLC cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,851 shares of the transportation company’s stock after selling 952 shares during the period. Byrne Asset Management LLC’s holdings in United Parcel Service were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of UPS. Principal Financial Group Inc. raised its position in shares of United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after purchasing an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in United Parcel Service in the fourth quarter valued at $461,000. Synovus Financial Corp boosted its stake in United Parcel Service by 8.6% during the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after acquiring an additional 6,941 shares during the last quarter. Van ECK Associates Corp grew its holdings in United Parcel Service by 1,061.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after acquiring an additional 1,620,091 shares in the last quarter. Finally, HF Advisory Group LLC acquired a new stake in shares of United Parcel Service in the 4th quarter valued at about $1,305,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 45,098 shares of the company’s stock, valued at $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

UPS has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group reduced their price objective on United Parcel Service from $166.00 to $147.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer lifted their price target on shares of United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Robert W. Baird downgraded shares of United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service has a consensus rating of “Moderate Buy” and a consensus target price of $140.73.

United Parcel Service Stock Performance

Shares of UPS opened at $113.20 on Friday. The stock has a market capitalization of $96.60 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.50 and a beta of 0.98. United Parcel Service, Inc. has a 12-month low of $109.40 and a 12-month high of $158.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The firm’s 50 day moving average is $126.40 and its 200-day moving average is $129.46.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Equities research analysts anticipate that United Parcel Service, Inc. will post 7.99 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a yield of 5.80%. United Parcel Service’s dividend payout ratio is currently 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.