United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Concord Asset Management LLC VA

Concord Asset Management LLC VA lessened its holdings in United Parcel Service, Inc. (NYSE:UPS) by 52.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,833 shares of the transportation company’s stock after selling 6,456 shares during the quarter. Concord Asset Management LLC VA’s holdings in United Parcel Service were worth $795,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Bridge Advisors boosted its holdings in shares of United Parcel Service by 1.9% in the 3rd quarter. Tower Bridge Advisors now owns 39,601 shares of the transportation company’s stock valued at $5,399,000 after buying an additional 737 shares during the period. Atlanta Consulting Group Advisors LLC lifted its holdings in United Parcel Service by 26.6% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 16,484 shares of the transportation company’s stock worth $2,247,000 after acquiring an additional 3,467 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in United Parcel Service by 13.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 16,940 shares of the transportation company’s stock valued at $2,310,000 after acquiring an additional 2,060 shares during the period. RIA Advisory Group LLC bought a new position in shares of United Parcel Service during the third quarter valued at approximately $285,000. Finally, Natixis Advisors LLC raised its position in shares of United Parcel Service by 40.6% during the 3rd quarter. Natixis Advisors LLC now owns 249,530 shares of the transportation company’s stock worth $34,021,000 after purchasing an additional 71,996 shares during the period. Institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI upped their price objective on United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Susquehanna increased their price objective on shares of United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets decreased their target price on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Finally, Robert W. Baird cut their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average price target of $151.52.

United Parcel Service Stock Performance

NYSE:UPS opened at $134.07 on Friday. The company has a 50-day moving average of $132.50 and a 200-day moving average of $134.67. The firm has a market cap of $114.84 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. Analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Monday, November 18th. United Parcel Service’s payout ratio is 98.49%.

About United Parcel Service

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.