Carnegie Capital Asset Management LLC Sells 7,140 Shares of United Parcel Service, Inc. (NYSE:UPS)

by · The Markets Daily

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Carnegie Capital Asset Management LLC cut its holdings in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,223 shares of the transportation company’s stock after selling 7,140 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in United Parcel Service were worth $3,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in United Parcel Service by 1.3% in the second quarter. State Street Corp now owns 28,354,781 shares of the transportation company’s stock valued at $5,082,594,000 after buying an additional 357,974 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 15,260,626 shares of the transportation company’s stock worth $2,716,829,000 after purchasing an additional 317,010 shares during the period. Geode Capital Management LLC raised its position in shares of United Parcel Service by 2.9% during the second quarter. Geode Capital Management LLC now owns 13,590,985 shares of the transportation company’s stock worth $2,430,504,000 after purchasing an additional 388,258 shares during the period. Northern Trust Corp raised its position in shares of United Parcel Service by 0.6% during the first quarter. Northern Trust Corp now owns 9,273,417 shares of the transportation company’s stock worth $1,988,777,000 after purchasing an additional 54,401 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of United Parcel Service by 23.2% during the second quarter. Franklin Resources Inc. now owns 7,740,369 shares of the transportation company’s stock worth $1,387,461,000 after purchasing an additional 1,457,070 shares during the period. 58.45% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

NYSE:UPS opened at $162.94 on Monday. The business’s 50-day moving average price is $149.61 and its two-hundred day moving average price is $164.01. United Parcel Service, Inc. has a twelve month low of $133.68 and a twelve month high of $197.80. The stock has a market cap of $138.81 billion, a P/E ratio of 16.49, a PEG ratio of 1.79 and a beta of 1.09. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.98.

United Parcel Service (NYSE:UPS – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. The firm had revenue of $21.06 billion for the quarter, compared to analyst estimates of $21.40 billion. United Parcel Service had a return on equity of 43.46% and a net margin of 9.19%. The company’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.99 EPS. As a group, equities analysts predict that United Parcel Service, Inc. will post 8.8 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 13th were given a dividend of $1.62 per share. The ex-dividend date was Friday, November 10th. This represents a $6.48 annualized dividend and a dividend yield of 3.98%. United Parcel Service’s dividend payout ratio (DPR) is presently 65.59%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer lowered their target price on United Parcel Service from $195.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, September 18th. Evercore ISI reduced their price objective on United Parcel Service from $185.00 to $179.00 and set an “in-line” rating for the company in a research note on Tuesday, September 12th. TD Cowen reduced their price objective on United Parcel Service from $190.00 to $185.00 and set a “market perform” rating for the company in a research note on Thursday, September 14th. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $186.00 to $178.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Finally, HSBC assumed coverage on United Parcel Service in a research note on Friday, September 29th. They issued a “hold” rating and a $170.00 price objective for the company. Sixteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $188.91.

Read Our Latest Report on UPS

United Parcel Service Company Profile

(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 letters, documents, small packages, and palletized freight through air and ground services in the United States.

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