Allworth Financial LP Grows Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Allworth Financial LP increased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 148,935 shares of the transportation company's stock after purchasing an additional 5,170 shares during the quarter. Allworth Financial LP's holdings in United Parcel Service were worth $16,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in shares of United Parcel Service during the fourth quarter valued at $25,000. Generali Investments Management Co LLC purchased a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in United Parcel Service in the 4th quarter worth approximately $28,000. Finally, Runnymede Capital Advisors Inc. bought a new position in United Parcel Service in the 4th quarter valued at approximately $30,000. 60.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UPS has been the subject of several recent analyst reports. Bank of America boosted their price target on United Parcel Service from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Hsbc Global Res downgraded shares of United Parcel Service from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Galvan Research reduced their price target on shares of United Parcel Service from $147.00 to $133.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered their price target on United Parcel Service from $128.00 to $124.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $119.13.

United Parcel Service Trading Down 1.6%

Shares of UPS stock traded down $1.63 during trading hours on Friday, reaching $101.29. 4,337,400 shares of the stock were exchanged, compared to its average volume of 5,255,610. The firm has a market capitalization of $85.77 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.98 and a beta of 1.21. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15. The company's 50-day moving average price is $99.32 and its 200-day moving average price is $109.23. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The business's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. As a group, equities analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 6.48%. The ex-dividend date was Monday, May 19th. United Parcel Service's payout ratio is 95.63%.

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.