Vestcor Inc Trims Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Vestcor Inc reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 32.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,780 shares of the transportation company's stock after selling 7,100 shares during the period. Vestcor Inc's holdings in United Parcel Service were worth $2,015,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in UPS. TruNorth Capital Management LLC bought a new stake in United Parcel Service in the second quarter valued at approximately $28,000. True Wealth Design LLC boosted its position in United Parcel Service by 397.7% during the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company's stock valued at $29,000 after buying an additional 171 shares during the period. Centerpoint Advisors LLC grew its holdings in United Parcel Service by 291.7% in the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company's stock worth $32,000 after acquiring an additional 175 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of United Parcel Service by 720.0% in the third quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company's stock valued at $34,000 after acquiring an additional 216 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in shares of United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company's stock valued at $34,000 after acquiring an additional 155 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Evercore ISI raised their target price 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. Citigroup reduced their target price on United Parcel Service from $163.00 to $158.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Susquehanna lifted their price target on shares of United Parcel Service from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Argus upgraded shares of United Parcel Service from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group cut their target price on shares of United Parcel Service from $165.00 to $162.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $151.29.

Insider Activity

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company's stock.

United Parcel Service Stock Down 0.1 %

Shares of UPS traded down $0.13 during trading hours on Thursday, hitting $128.99. The company had a trading volume of 4,979,766 shares, compared to its average volume of 4,187,877. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The firm has a fifty day moving average price of $133.02 and a 200-day moving average price of $132.88. The stock has a market capitalization of $110.08 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 2.06 and a beta of 0.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results 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 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 analysts' expectations of $22.10 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that United Parcel Service, Inc. will post 7.48 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Monday, November 18th. United Parcel Service's dividend payout ratio is currently 98.49%.

United Parcel Service Company Profile

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.