Convergence Financial LLC Sells 1,145 Shares of United Parcel Service, Inc. (NYSE:UPS)

Convergence Financial LLC reduced its holdings in United Parcel Service, Inc. (NYSE:UPS) by 41.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,640 shares of the transportation company’s stock after selling 1,145 shares during the quarter. Convergence Financial LLC’s holdings in United Parcel Service were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of United Parcel Service in the second quarter valued at about $28,000. Riverview Trust Co acquired a new stake in shares of United Parcel Service in the second quarter valued at about $32,000. Centerpoint Advisors LLC grew its position in shares of United Parcel Service by 291.7% in the second 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 last quarter. Tortoise Investment Management LLC grew its position in shares of United Parcel Service by 168.5% in the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 155 shares during the last quarter. Finally, PSI Advisors LLC grew its position 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 valued at $34,000 after purchasing an additional 200 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

NYSE:UPS opened at $137.43 on Friday. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The firm has a 50 day moving average of $130.89 and a 200-day moving average of $135.98. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $117.72 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. United Parcel Service’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.44 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is currently 106.36%.

Analyst Upgrades and Downgrades

UPS has been the topic of several research analyst reports. Bank of America raised their price target on United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday. Barclays reissued an “underweight” rating and set a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. Baird R W raised United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. TD Cowen assumed coverage on United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price on the stock. Finally, BMO Capital Markets decreased their target price on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.43.

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.