Mechanics Bank Trust Department Sells 290 Shares of United Parcel Service, Inc. (NYSE:UPS)

by · The Markets Daily

Mechanics Bank Trust Department cut its holdings in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,424 shares of the transportation company’s stock after selling 290 shares during the quarter. Mechanics Bank Trust Department’s holdings in United Parcel Service were worth $1,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brown Miller Wealth Management LLC boosted its stake in United Parcel Service by 7.5% in the third quarter. Brown Miller Wealth Management LLC now owns 10,916 shares of the transportation company’s stock valued at $1,488,000 after acquiring an additional 757 shares during the last quarter. Octavia Wealth Advisors LLC boosted its stake in United Parcel Service by 37.9% in the third quarter. Octavia Wealth Advisors LLC now owns 4,684 shares of the transportation company’s stock valued at $639,000 after acquiring an additional 1,288 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in United Parcel Service by 16.5% in the third quarter. Valeo Financial Advisors LLC now owns 27,757 shares of the transportation company’s stock valued at $3,784,000 after acquiring an additional 3,922 shares during the last quarter. Wynn Capital LLC bought a new position in United Parcel Service in the third quarter valued at approximately $237,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in United Parcel Service by 257.1% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,235 shares of the transportation company’s stock valued at $714,000 after acquiring an additional 3,769 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William R. Johnson acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now directly owns 5,160 shares in the company, valued at approximately $663,627.60. The trade was a 3,100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on UPS shares. Stephens cut their target price on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird cut their target price on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. UBS Group cut their target price on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen started coverage on shares of United Parcel Service in a report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.24.

Get Our Latest Stock Analysis on United Parcel Service

United Parcel Service Stock Up 1.3 %

United Parcel Service stock opened at $134.60 on Friday. The company has a market cap of $115.30 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82. The company has a fifty day simple moving average of $129.21 and a 200 day simple moving average of $137.03. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18.

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

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 106.36%.

About United Parcel Service

(Free Report)

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.

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