Bonness Enterprises Inc. Grows Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Bonness Enterprises Inc. boosted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 14.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,050 shares of the transportation company’s stock after purchasing an additional 2,100 shares during the quarter. United Parcel Service comprises about 0.8% of Bonness Enterprises Inc.’s investment portfolio, making the stock its 24th largest position. Bonness Enterprises Inc.’s holdings in United Parcel Service were worth $2,325,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UPS. TruNorth Capital Management LLC purchased a new stake in United Parcel Service during the second quarter valued at $28,000. Riverview Trust Co bought a new position in United Parcel Service during the second quarter valued at $32,000. Centerpoint Advisors LLC increased its position in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 175 shares during the last quarter. Stephens Consulting LLC increased its position in United Parcel Service by 869.6% during the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its position in United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Stephens cut their price objective on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. cut their price objective on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Oppenheimer cut their price target on shares of United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.24.

United Parcel Service Stock Up 0.4 %

Shares of UPS stock traded up $0.52 during mid-day trading on Friday, hitting $135.93. 3,237,527 shares of the stock traded hands, compared to its average volume of 4,186,706. The stock has a market cap of $116.43 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.98 and a beta of 0.99. The stock’s fifty day moving average is $130.21 and its two-hundred day moving average is $136.66. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion for the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 earnings per share. Equities analysts predict that United Parcel Service, Inc. will post 7.43 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s payout ratio is 106.36%.

Insider Buying and Selling at United Parcel Service

In other news, Director William R. Johnson purchased 5,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average cost of $128.61 per share, with a total value of $643,050.00. Following the completion of the transaction, the director now owns 5,160 shares in the company, valued at $663,627.60. This represents a 3,100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.