Concord Asset Management LLC VA Sells 6,456 Shares of United Parcel Service, Inc. (NYSE:UPS)

Concord Asset Management LLC VA reduced its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 52.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in shares of United Parcel Service during the 2nd quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in shares of United Parcel Service in the second quarter valued at $32,000. Centerpoint Advisors LLC raised its stake in shares of United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company's stock valued at $32,000 after purchasing an additional 175 shares during the period. Tortoise Investment Management LLC lifted its holdings in United Parcel Service by 168.5% during the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company's stock worth $34,000 after purchasing an additional 155 shares in the last quarter. Finally, PSI Advisors LLC boosted its stake in United Parcel Service by 408.2% in the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company's stock worth $34,000 after purchasing an additional 200 shares during the period. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Trading Up 1.1 %

Shares of NYSE UPS traded up $1.43 during mid-day trading on Friday, hitting $134.07. The stock had a trading volume of 3,337,614 shares, compared to its average volume of 3,986,738. The firm has a market cap of $114.84 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50 day moving average price of $132.50 and a two-hundred day moving average price of $134.67. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82.

United Parcel Service (NYSE:UPS - Get Free Report) last posted 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. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.10 billion. During the same period in the prior year, the business posted $1.57 earnings per share. United Parcel Service's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that United Parcel Service, Inc. will post 7.48 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 4.86%. The ex-dividend date is Monday, November 18th. United Parcel Service's dividend payout ratio (DPR) is currently 98.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UPS. Citigroup lowered their price target on shares of United Parcel Service from $163.00 to $158.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Barclays reissued an "underweight" rating and issued a $120.00 price target on shares of United Parcel Service in a report on Monday, October 21st. Evercore ISI upped their price target on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price objective on United Parcel Service from $165.00 to $162.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America upped their target price on United Parcel Service from $132.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, United Parcel Service currently has an average rating of "Moderate Buy" and a consensus target price of $151.52.

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.