RNC Capital Management LLC increased its stake in United Parcel Service, Inc. (NYSE:UPS) by 6.9% during the first quarter, Holdings Channel reports. The fund owned 251,494 shares of the transportation company’s stock after buying an additional 16,218 shares during the period. United Parcel Service comprises approximately 2.1% of RNC Capital Management LLC’s investment portfolio, making the stock its 25th largest position. RNC Capital Management LLC’s holdings in United Parcel Service were worth $26,985,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First PREMIER Bank increased its stake in United Parcel Service by 11.1% in the first quarter. First PREMIER Bank now owns 997 shares of the transportation company’s stock worth $107,000 after buying an additional 100 shares during the period. Tompkins Financial Corp increased its stake in United Parcel Service by 8.1% in the first quarter. Tompkins Financial Corp now owns 1,001 shares of the transportation company’s stock worth $106,000 after buying an additional 75 shares during the period. SRS Capital Advisors Inc. acquired a new stake in United Parcel Service during the fourth quarter worth about $125,000. Security National Trust Co. increased its stake in United Parcel Service by 8.9% in the first quarter. Security National Trust Co. now owns 1,244 shares of the transportation company’s stock worth $134,000 after buying an additional 102 shares during the period. Finally, Financial Architects Inc increased its stake in United Parcel Service by 14.3% in the first quarter. Financial Architects Inc now owns 1,301 shares of the transportation company’s stock worth $140,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 53.62% of the company’s stock.
Shares of United Parcel Service, Inc. (NYSE:UPS) opened at 111.01 on Tuesday. The firm has a market cap of $96.33 billion, a P/E ratio of 28.36 and a beta of 0.89. The stock’s 50 day moving average is $106.67 and its 200-day moving average is $109.22. United Parcel Service, Inc. has a 52-week low of $102.12 and a 52-week high of $120.44.
United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, April 27th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.03. United Parcel Service had a return on equity of 320.39% and a net margin of 5.60%. The company had revenue of $15.32 billion during the quarter, compared to analysts’ expectations of $15.19 billion. During the same period last year, the firm posted $1.27 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that United Parcel Service, Inc. will post $5.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Monday, May 15th were issued a dividend of $0.83 per share. The ex-dividend date was Thursday, May 11th. This represents a $3.32 annualized dividend and a yield of 2.99%. United Parcel Service’s payout ratio is currently 84.69%.
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A number of analysts recently issued reports on UPS shares. Wells Fargo & Company started coverage on shares of United Parcel Service in a research report on Monday, March 13th. They set a “market perform” rating and a $115.00 target price for the company. Seaport Global Securities started coverage on shares of United Parcel Service in a research report on Tuesday, June 6th. They set a “neutral” rating for the company. BidaskClub raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a research report on Friday, April 7th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $116.00 target price on shares of United Parcel Service in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $114.00.
In related news, SVP Kathleen M. Gutmann sold 2,000 shares of United Parcel Service stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $107.49, for a total transaction of $214,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.59% of the company’s stock.
About United Parcel Service
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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