Ipsen Advisor Group LLC bought a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 4,238 shares of the transportation company's stock, valued at approximately $466,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of UPS. Norges Bank purchased a new position in shares of United Parcel Service in the 4th quarter worth approximately $1,075,393,000. Raymond James Financial Inc. purchased a new position in United Parcel Service during the 4th quarter valued at $393,680,000. Franklin Resources Inc. boosted its holdings in United Parcel Service by 15.6% during the 4th quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock valued at $1,384,567,000 after acquiring an additional 1,484,452 shares during the period. Van ECK Associates Corp boosted its holdings in United Parcel Service by 77.7% during the 4th quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company's stock valued at $397,329,000 after acquiring an additional 1,378,136 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in United Parcel Service by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company's stock valued at $2,933,674,000 after acquiring an additional 1,337,058 shares during the period. Hedge funds and other institutional investors own 60.26% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. Wall Street Zen cut United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Loop Capital dropped their price objective on United Parcel Service from $115.00 to $105.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus dropped their price objective on United Parcel Service from $145.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company restated an "equal weight" rating and set a $98.00 price objective (down previously from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. Finally, HSBC cut United Parcel Service from a "buy" rating to a "hold" rating and set a $105.00 price objective for the company. in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, United Parcel Service currently has an average rating of "Hold" and a consensus target price of $120.26.
Get Our Latest Analysis on UPS
United Parcel Service Stock Down 1.2%
Shares of UPS traded down $1.25 during trading hours on Wednesday, hitting $101.21. The company had a trading volume of 4,916,211 shares, compared to its average volume of 5,180,380. The company has a market capitalization of $85.70 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a one year low of $90.55 and a one year high of $148.15. The company's fifty day moving average price is $97.15 and its two-hundred day moving average price is $113.42.
United Parcel Service (NYSE:UPS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same period in the prior year, the company posted $1.43 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.
United Parcel Service Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.48%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio is currently 95.63%.
About United Parcel Service
(
Free Report)
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.
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