Stock Yards Bank & Trust Co. boosted its position in United Parcel Service, Inc. (NYSE:UPS) by 8.3% during the third quarter, Holdings Channel.com reports. The fund owned 93,485 shares of the transportation company’s stock after purchasing an additional 7,157 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in United Parcel Service were worth $17,024,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Intrepid Capital Management Inc. bought a new stake in United Parcel Service in the second quarter valued at about $3,492,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of United Parcel Service in the second quarter worth $21,208,000. Tobam increased its stake in shares of United Parcel Service by 28.9% in the second quarter. Tobam now owns 74,922 shares of the transportation company’s stock worth $15,582,000 after acquiring an additional 16,778 shares during the last quarter. Clark Capital Management Group Inc. increased its stake in shares of United Parcel Service by 603.7% in the second quarter. Clark Capital Management Group Inc. now owns 21,584 shares of the transportation company’s stock worth $4,489,000 after acquiring an additional 18,517 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its position in United Parcel Service by 4.7% during the second quarter. Congress Asset Management Co. MA now owns 53,590 shares of the transportation company’s stock worth $11,145,000 after buying an additional 2,426 shares during the last quarter. Institutional investors own 56.96% of the company’s stock.
United Parcel Service stock traded down $3.34 during mid-day trading on Thursday, hitting $208.47. 2,518,700 shares of the company traded hands, compared to its average volume of 3,202,358. The stock has a market cap of $181.19 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.48 and a current ratio of 1.48. United Parcel Service, Inc. has a one year low of $154.76 and a one year high of $220.24. The stock has a fifty day moving average price of $198.31 and a 200-day moving average price of $201.70.
United Parcel Service declared that its Board of Directors has approved a stock repurchase program on Thursday, August 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 8th. Investors of record on Monday, November 22nd will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, November 19th. United Parcel Service’s payout ratio is 54.99%.
UPS has been the subject of several research reports. Bank of America increased their target price on shares of United Parcel Service from $220.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. Loop Capital lowered shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $226.00 price objective for the company. in a report on Wednesday, October 27th. Evercore ISI started coverage on shares of United Parcel Service in a report on Tuesday, September 28th. They set an “outperform” rating and a $225.00 price objective for the company. Barclays raised their price target on shares of United Parcel Service from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Wednesday, October 27th. Finally, Raymond James raised their price objective on shares of United Parcel Service from $240.00 to $260.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $213.16.
United Parcel Service Company Profile
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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