Montecito Bank & Trust Sells 97 Shares of United Parcel Service, Inc. (NYSE:UPS)

Montecito Bank & Trust reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,033 shares of the transportation company’s stock after selling 97 shares during the period. Montecito Bank & Trust’s holdings in United Parcel Service were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UPS. International Assets Investment Management LLC lifted its position in shares of United Parcel Service by 15,779.6% during the 3rd quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock worth $1,994,853,000 after buying an additional 14,539,321 shares during the last quarter. Marshall Wace LLP raised its position in United Parcel Service by 284.8% in the second quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock valued at $351,681,000 after purchasing an additional 1,901,914 shares during the last quarter. Van ECK Associates Corp raised its position in 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 valued at $232,959,000 after purchasing an additional 1,620,091 shares during the last quarter. Spirepoint Private Client LLC bought a new position in United Parcel Service in the first quarter valued at about $160,787,000. Finally, Assenagon Asset Management S.A. raised its position in United Parcel Service by 5,136.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,079,964 shares of the transportation company’s stock valued at $147,242,000 after purchasing an additional 1,059,339 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Trading Up 0.2 %

Shares of United Parcel Service stock opened at $134.17 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.14. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82. The stock has a 50 day moving average price of $131.83 and a two-hundred day moving average price of $135.39. The stock has a market capitalization of $114.93 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99.

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

United Parcel Service Announces Dividend

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

Wall Street Analysts Forecast Growth

UPS has been the subject of several research reports. Barclays reiterated an “underweight” rating and issued a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. UBS Group increased their price target on United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America increased their price target on United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Citigroup started coverage on United Parcel Service in a research note on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.71.

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.