Kentucky Retirement Systems Reduces Position in United Parcel Service, Inc. (NYSE:UPS)

Kentucky Retirement Systems trimmed its position in United Parcel Service, Inc. (NYSE:UPS) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,031 shares of the transportation company’s stock after selling 3,934 shares during the period. Kentucky Retirement Systems’ holdings in United Parcel Service were worth $6,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of United Parcel Service in the second quarter worth about $28,000. Riverview Trust Co purchased a new stake in United Parcel Service in the second quarter valued at approximately $32,000. Centerpoint Advisors LLC increased 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 buying an additional 175 shares during the period. Tortoise Investment Management LLC raised its position 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 buying an additional 155 shares during the last quarter. Finally, PSI Advisors LLC lifted its stake in United Parcel Service by 408.2% during the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Price Performance

NYSE:UPS opened at $134.10 on Friday. The stock has a 50 day moving average of $132.50 and a two-hundred day moving average of $134.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a market cap of $114.86 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $163.82.

United Parcel Service (NYSE:UPS) last announced its quarterly 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 business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter last year, the firm earned $1.57 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 98.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. UBS Group upped their target price on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America raised their target price on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. BMO Capital Markets decreased their price target on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Finally, Barclays reaffirmed an “underweight” rating and set a $120.00 price objective on shares of United Parcel Service in a research note on Monday, October 21st. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.