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

Summit Asset Management LLC decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,072 shares of the transportation company’s stock after selling 250 shares during the quarter. Summit Asset Management LLC’s holdings in United Parcel Service were worth $513,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. State Street Corp raised 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 worth $4,035,313,000 after acquiring an additional 613,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $2,989,609,000 after acquiring an additional 1,320,921 shares in the last quarter. Geode Capital Management LLC raised 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 worth $2,080,170,000 after acquiring an additional 373,202 shares in the last quarter. FMR LLC raised 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 worth $1,448,960,000 after acquiring an additional 380,229 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in United Parcel Service by 6.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,639,272 shares of the transportation company’s stock worth $632,518,000 after acquiring an additional 292,777 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. The trade was a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UPS has been the subject of several research analyst reports. Evercore ISI increased their price objective on United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 22nd. Bank of America lowered their target price on United Parcel Service from $150.00 to $133.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup lowered their target price on United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.73.

United Parcel Service Stock Down 0.2 %

Shares of NYSE:UPS opened at $116.35 on Friday. The stock’s 50-day moving average price is $123.21 and its two-hundred day moving average price is $128.36. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 12-month low of $109.40 and a 12-month high of $158.95. The firm has a market cap of $99.38 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.55 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $2.47 EPS. On average, research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 5.64%. United Parcel Service’s payout ratio is 97.04%.

United Parcel Service 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.