CrestPoint Capital Management LLC Sells 400 Shares of United Parcel Service, Inc. (NYSE:UPS)

CrestPoint Capital Management LLC cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,700 shares of the transportation company’s stock after selling 400 shares during the period. CrestPoint Capital Management LLC’s holdings in United Parcel Service were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Banco Santander S.A. purchased a new position in shares of United Parcel Service during the fourth quarter valued at about $2,293,000. Chevy Chase Trust Holdings Inc. increased its position in shares of United Parcel Service by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 600,375 shares of the transportation company’s stock valued at $64,420,000 after buying an additional 19,369 shares in the last quarter. Atlas Brown Inc. increased its position in shares of United Parcel Service by 0.9% in the first quarter. Atlas Brown Inc. now owns 2,296 shares of the transportation company’s stock valued at $246,000 after buying an additional 20 shares in the last quarter. Worth Venture Partners LLC purchased a new position in shares of United Parcel Service during the fourth quarter valued at about $880,000. Finally, BTIM Corp. increased its position in shares of United Parcel Service by 1.5% in the first quarter. BTIM Corp. now owns 470,649 shares of the transportation company’s stock valued at $50,501,000 after buying an additional 7,066 shares in the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $15.75 billion during the quarter, compared to analyst estimates of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Monday, August 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, August 10th. United Parcel Service’s payout ratio is presently 81.57%.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was originally reported by [[site]] and is owned by of [[site]]. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at [[permalink]].

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Sanford C. Bernstein reissued an “outperform” rating and set a $127.00 price objective on shares of United Parcel Service in a report on Monday, July 3rd. TheStreet raised shares of United Parcel Service from a “c” rating to a “b” rating in a report on Thursday, July 27th. BidaskClub cut shares of United Parcel Service from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $116.00 price objective on shares of United Parcel Service in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $113.77.

In related news, insider James J. Barber sold 3,556 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $110.85, for a total value of $394,182.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kathleen M. Gutmann sold 2,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $107.49, for a total transaction of $214,980.00. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.