Centre Asset Management LLC Buys Shares of 75,571 United Parcel Service, Inc. (NYSE:UPS)

Centre Asset Management LLC bought a new position in United Parcel Service, Inc. (NYSE:UPS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 75,571 shares of the transportation company’s stock, valued at approximately $9,530,000. United Parcel Service makes up 2.2% of Centre Asset Management LLC’s portfolio, making the stock its 18th largest holding.

Several other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of United Parcel Service by 397.7% in the third quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock worth $29,000 after buying an additional 171 shares during the period. PSI Advisors LLC grew its holdings in shares of United Parcel Service by 408.2% in the third 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 last quarter. Princeton Global Asset Management LLC raised its holdings in shares of United Parcel Service by 720.0% during 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 in the last quarter. FSA Wealth Management LLC bought a new stake in United Parcel Service in the third quarter valued at $36,000. Finally, Meeder Asset Management Inc. raised its holdings in United Parcel Service by 271.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 394 shares of the transportation company’s stock worth $54,000 after purchasing an additional 288 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UPS. Evercore ISI raised their price objective 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. Bank of America increased their price target on shares of United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Barclays restated an “underweight” rating and issued a $120.00 price objective on shares of United Parcel Service in a report on Monday, October 21st. StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered their price target on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus price target of $151.10.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 45,098 shares in the company, valued at $6,249,229.86. The trade was a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

United Parcel Service Stock Down 0.8 %

Shares of NYSE:UPS traded down $0.94 during trading hours on Friday, hitting $122.93. The company’s stock had a trading volume of 679,756 shares, compared to its average volume of 1,765,599. The company has a market capitalization of $104.90 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.11 and a beta of 0.98. The firm’s fifty day moving average price is $130.73 and its 200 day moving average price is $131.69. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14. United Parcel Service, Inc. has a 52 week low of $122.01 and a 52 week high of $161.48.

United Parcel Service (NYSE:UPS) last posted 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. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.57 earnings per share. As a group, research analysts expect that United Parcel Service, Inc. will post 7.48 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Monday, November 18th. United Parcel Service’s dividend payout ratio is presently 98.49%.

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.