Migdal Insurance & Financial Holdings Ltd. Raises Holdings in United Parcel Service, Inc. (UPS)
Migdal Insurance & Financial Holdings Ltd. boosted its position in United Parcel Service, Inc. (NYSE:UPS) by 93.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,623 shares of the transportation company’s stock after purchasing an additional 4,167 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in United Parcel Service were worth $1,007,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in United Parcel Service during the 2nd quarter worth $335,000. Cornerstone Wealth Management LLC boosted its position in United Parcel Service by 10,460.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 852,658 shares of the transportation company’s stock worth $8,053,000 after purchasing an additional 844,584 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in United Parcel Service by 18.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 20,018 shares of the transportation company’s stock worth $2,055,000 after purchasing an additional 3,168 shares during the period. RNC Capital Management LLC purchased a new stake in United Parcel Service during the 2nd quarter worth $29,200,000. Finally, Bridge Creek Capital Management LLC purchased a new stake in United Parcel Service during the 2nd quarter worth $3,799,000. 53.74% of the stock is owned by institutional investors and hedge funds.
UPS has been the subject of a number of analyst reports. Zacks Investment Research raised shares of United Parcel Service from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Tuesday, July 24th. Goldman Sachs Group set a $139.00 price objective on shares of United Parcel Service and gave the company a “buy” rating in a research report on Wednesday, July 25th. Stephens set a $128.00 price objective on shares of United Parcel Service and gave the company a “hold” rating in a research report on Wednesday, July 25th. BMO Capital Markets upped their price objective on shares of United Parcel Service to $128.00 and gave the company a “market perform” rating in a research report on Thursday, July 26th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $125.00 price objective on shares of United Parcel Service in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $125.66.
United Parcel Service (NYSE:UPS) last issued its earnings results on Wednesday, October 24th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $17.44 billion for the quarter, compared to analyst estimates of $17.48 billion. United Parcel Service had a net margin of 7.68% and a return on equity of 307.54%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS. Sell-side analysts forecast that United Parcel Service, Inc. will post 7.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be paid a $0.91 dividend. The ex-dividend date is Friday, November 16th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.27%. United Parcel Service’s dividend payout ratio (DPR) is presently 60.57%.
In other news, insider George Willis sold 4,312 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $121.34, for a total value of $523,218.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
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About United Parcel Service
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
Further Reading: NASDAQ Stock Market Explained
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