Spears Abacus Advisors LLC Has $29.09 Million Stake in United Parcel Service, Inc. (UPS)

Spears Abacus Advisors LLC reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,083 shares of the transportation company’s stock after selling 11,302 shares during the quarter. United Parcel Service makes up approximately 3.6% of Spears Abacus Advisors LLC’s holdings, making the stock its 12th biggest position. Spears Abacus Advisors LLC’s holdings in United Parcel Service were worth $29,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bancorpsouth Inc. boosted its stake in shares of United Parcel Service by 2.7% during the second quarter. Bancorpsouth Inc. now owns 38,669 shares of the transportation company’s stock valued at $4,277,000 after purchasing an additional 1,022 shares in the last quarter. Waters Parkerson & CO. LLC increased its holdings in shares of United Parcel Service by 0.6% during the second quarter. Waters Parkerson & CO. LLC now owns 111,544 shares of the transportation company’s stock valued at $12,336,000 after acquiring an additional 715 shares in the last quarter. Ally Financial Inc. increased its holdings in shares of United Parcel Service by 71.4% during the second quarter. Ally Financial Inc. now owns 60,000 shares of the transportation company’s stock valued at $6,635,000 after acquiring an additional 25,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of United Parcel Service by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,737,670 shares of the transportation company’s stock valued at $192,163,000 after acquiring an additional 49,059 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its holdings in shares of United Parcel Service by 11.0% during the second quarter. Ropes Wealth Advisors LLC now owns 8,025 shares of the transportation company’s stock valued at $887,000 after acquiring an additional 797 shares in the last quarter. 53.67% of the stock is owned by institutional investors.

Shares of United Parcel Service, Inc. (UPS) traded down $2.08 during midday trading on Wednesday, reaching $118.29. The company’s stock had a trading volume of 3,346,489 shares, compared to its average volume of 2,719,656. The company has a market capitalization of $106,613.23, a PE ratio of 20.69, a P/E/G ratio of 2.22 and a beta of 0.92. United Parcel Service, Inc. has a 52 week low of $102.12 and a 52 week high of $125.16. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 9.33.

United Parcel Service (NYSE:UPS) last released its earnings results on Thursday, October 26th. The transportation company reported $1.45 EPS for the quarter, meeting analysts’ consensus estimates of $1.45. The firm had revenue of $15.98 billion for the quarter, compared to analysts’ expectations of $15.62 billion. United Parcel Service had a return on equity of 551.29% and a net margin of 5.58%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. equities analysts predict that United Parcel Service, Inc. will post 6.01 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, November 10th. This represents a $3.32 annualized dividend and a dividend yield of 2.81%. United Parcel Service’s dividend payout ratio is presently 81.37%.

UPS has been the topic of several research analyst reports. Citigroup raised United Parcel Service from a “neutral” rating to a “buy” rating and upped their price target for the company from $115.00 to $128.00 in a research report on Tuesday, August 8th. Oppenheimer reissued a “buy” rating and set a $123.00 price objective (up previously from $116.00) on shares of United Parcel Service in a report on Wednesday, September 20th. Zacks Investment Research upgraded United Parcel Service from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research note on Friday, October 6th. Goldman Sachs Group assumed coverage on United Parcel Service in a research report on Monday, November 13th. They set a “buy” rating and a $148.00 price objective on the stock. Finally, Deutsche Bank upgraded United Parcel Service from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $135.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $121.45.

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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.

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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