Grimes & Company Inc. Has $16.20 Million Position in United Parcel Service, Inc. (NYSE:UPS)

Grimes & Company Inc. lowered its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 128,433 shares of the transportation company’s stock after selling 13,255 shares during the quarter. Grimes & Company Inc.’s holdings in United Parcel Service were worth $16,195,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of United Parcel Service by 4.3% during the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after purchasing an additional 33,989 shares during the period. Synovus Financial Corp grew its stake in shares of United Parcel Service by 8.6% during the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after acquiring an additional 6,941 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of United Parcel Service by 1,061.1% in the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after purchasing an additional 1,620,091 shares in the last quarter. HF Advisory Group LLC bought a new stake in shares of United Parcel Service in the fourth quarter worth $1,305,000. Finally, Cohen Investment Advisors LLC boosted its holdings in United Parcel Service by 26.4% during the third quarter. Cohen Investment Advisors LLC now owns 18,357 shares of the transportation company’s stock worth $2,503,000 after purchasing an additional 3,835 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Stock Performance

Shares of NYSE:UPS opened at $132.98 on Friday. The company’s 50 day moving average price is $128.95 and its two-hundred day moving average price is $130.82. United Parcel Service, Inc. has a 12-month low of $121.56 and a 12-month high of $161.35. The firm has a market cap of $113.48 billion, a PE ratio of 20.09, a PEG ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same quarter in the prior year, the business posted $1.57 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that United Parcel Service, Inc. will post 7.49 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.90%. United Parcel Service’s payout ratio is presently 98.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UPS. Wolfe Research upgraded shares of United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 price objective for the company in a research note on Wednesday, January 8th. Argus upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. 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 research note on Friday, October 25th. Citigroup reduced their price objective on shares of United Parcel Service from $163.00 to $158.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Bank of America raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.24.

Insiders Place Their Bets

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the sale, the insider now owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

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.