Mengis Capital Management Inc. Sells 325 Shares of United Parcel Service, Inc. (NYSE:UPS)

Mengis Capital Management Inc. lessened its position in United Parcel Service, Inc. (NYSE:UPS) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,016 shares of the transportation company’s stock after selling 325 shares during the period. Mengis Capital Management Inc.’s holdings in United Parcel Service were worth $1,638,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of United Parcel Service by 15,779.6% in the 3rd quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock worth $1,994,853,000 after purchasing an additional 14,539,321 shares during the period. Marshall Wace LLP lifted its stake in shares of United Parcel Service by 284.8% in the 2nd quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock valued at $351,681,000 after purchasing an additional 1,901,914 shares during the period. Van ECK Associates Corp boosted its position in shares of United Parcel Service by 1,061.1% during the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock valued at $232,959,000 after purchasing an additional 1,620,091 shares in the last quarter. Spirepoint Private Client LLC purchased a new stake in United Parcel Service in the first quarter worth $160,787,000. Finally, Assenagon Asset Management S.A. raised its holdings in United Parcel Service by 5,136.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,079,964 shares of the transportation company’s stock worth $147,242,000 after purchasing an additional 1,059,339 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

UPS has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group cut their price target on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Robert W. Baird cut their target price on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.52.

United Parcel Service Trading Down 1.1 %

NYSE:UPS opened at $130.17 on Wednesday. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The business has a fifty day moving average price of $132.17 and a 200-day moving average price of $134.88. The firm has a market capitalization of $111.50 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14.

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

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is 98.49%.

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.