Busey Bank Cuts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Busey Bank cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 18.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,040 shares of the transportation company’s stock after selling 462 shares during the quarter. Busey Bank’s holdings in United Parcel Service were worth $257,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of United Parcel Service by 2.1% during the 3rd quarter. State Street Corp now owns 29,597,425 shares of the transportation company’s stock worth $4,035,313,000 after acquiring an additional 613,409 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in United Parcel Service by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,927,607 shares of the transportation company’s stock worth $2,989,609,000 after purchasing an additional 1,320,921 shares in the last quarter. Geode Capital Management LLC grew its holdings in United Parcel Service by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,289,624 shares of the transportation company’s stock valued at $2,080,170,000 after purchasing an additional 373,202 shares during the period. International Assets Investment Management LLC increased its position in shares of United Parcel Service by 15,779.6% in the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after buying an additional 14,539,321 shares in the last quarter. Finally, FMR LLC raised its stake in shares of United Parcel Service by 3.7% during the 3rd quarter. FMR LLC now owns 10,627,550 shares of the transportation company’s stock worth $1,448,960,000 after buying an additional 380,229 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the sale, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

United Parcel Service Trading Down 14.1 %

UPS opened at $114.94 on Friday. The stock has a market capitalization of $98.09 billion, a PE ratio of 17.36, a P/E/G ratio of 1.88 and a beta of 1.00. United Parcel Service, Inc. has a one year low of $109.62 and a one year high of $158.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $129.05 and its 200 day moving average price is $130.72.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. During the same period last year, the company posted $2.47 EPS. As a group, equities research analysts expect that United Parcel Service, Inc. will post 7.5 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 5.67%. United Parcel Service’s dividend payout ratio is presently 98.49%.

Analyst Ratings Changes

UPS has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. UBS Group upped their price target on shares of United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America upgraded United Parcel Service from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday, January 16th. Wells Fargo & Company reduced their target price on United Parcel Service from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Wolfe Research raised United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 price target on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus price target of $151.24.

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.