First Merchants Corp decreased its position in United Parcel Service Inc. (NYSE:UPS) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 6,775 shares of the company’s stock after selling 50 shares during the period. First Merchants Corp’s holdings in United Parcel Service were worth $729,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in UPS. Nicolet Bankshares Inc. raised its position in shares of United Parcel Service by 5.1% in the first quarter. Nicolet Bankshares Inc. now owns 3,630 shares of the company’s stock valued at $383,000 after buying an additional 175 shares in the last quarter. Coastline Trust Co raised its position in shares of United Parcel Service by 0.7% in the first quarter. Coastline Trust Co now owns 14,585 shares of the company’s stock valued at $1,539,000 after buying an additional 105 shares in the last quarter. Bridge Creek Capital Management LLC raised its position in shares of United Parcel Service by 2.8% in the first quarter. Bridge Creek Capital Management LLC now owns 33,553 shares of the company’s stock valued at $3,539,000 after buying an additional 925 shares in the last quarter. CrestPoint Capital Management LLC bought a new position in shares of United Parcel Service during the first quarter valued at approximately $390,000. Finally, Iberiabank Corp raised its position in shares of United Parcel Service by 11.0% in the first quarter. Iberiabank Corp now owns 16,301 shares of the company’s stock valued at $1,719,000 after buying an additional 1,622 shares in the last quarter. Institutional investors own 53.28% of the company’s stock.

United Parcel Service Inc. (NYSE:UPS) traded up 0.01% during midday trading on Thursday, reaching $109.67. The company’s stock had a trading volume of 2,693,754 shares. The company’s 50-day moving average price is $109.07 and its 200-day moving average price is $106.11. The company has a market capitalization of $96.30 billion, a price-to-earnings ratio of 19.71 and a beta of 0.91. United Parcel Service Inc. has a 1-year low of $87.30 and a 1-year high of $111.83.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Friday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. United Parcel Service had a return on equity of 211.88% and a net margin of 8.41%. The company earned $14.60 billion during the quarter, compared to analysts’ expectations of $14.65 billion. During the same quarter in the prior year, the business posted $1.35 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts predict that United Parcel Service Inc. will post $5.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 16th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $3.12 annualized dividend and a dividend yield of 2.84%. United Parcel Service’s payout ratio is 56.01%.

Several brokerages have commented on UPS. Zacks Investment Research lowered shares of United Parcel Service from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. William Blair reiterated an “outperform” rating on shares of United Parcel Service in a research note on Tuesday, September 13th. Morgan Stanley set a $91.00 price target on shares of United Parcel Service and gave the company a “sell” rating in a research note on Monday, August 1st. Argus increased their price target on shares of United Parcel Service from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $116.00 target price (up from $112.00) on shares of United Parcel Service in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. United Parcel Service currently has a consensus rating of “Hold” and a consensus target price of $109.23.

In other news, insider James J. Barber sold 2,268 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $109.79, for a total value of $249,003.72. Following the completion of the transaction, the insider now owns 31,418 shares of the company’s stock, valued at $3,449,382.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is owned by insiders.

United Parcel Service Company Profile

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. It delivers packages each business day in over 220 countries and territories. The Company operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.

5 Day Chart for NYSE:UPS

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service Inc. (NYSE:UPS).

Receive News & Ratings for United Parcel Service Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service Inc. and related companies with MarketBeat.com's FREE daily email newsletter.