Meeder Asset Management Inc. Buys 9,268 Shares of United Parcel Service, Inc. $UPS

Key Points

• Meeder Asset Management increased its UPS stake by 79.7% in the first quarter, buying 9,268 additional shares and bringing its total holding to 20,898 shares worth about $2.06 million.
• UPS reported better-than-expected quarterly earnings of $1.07 per share, topping analyst estimates, while revenue came in at $21.20 billion, slightly above forecasts but still down 1.4% year over year.
• The company recently paid a $1.64 quarterly dividend, implying a 5.8% annual yield, though the payout ratio is elevated at 106.15%; analysts currently rate the stock a consensus “Hold” with a $111.10 price target.

Meeder Asset Management Inc. boosted its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 79.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,898 shares of the transportation company's stock after purchasing an additional 9,268 shares during the quarter. Meeder Asset Management Inc.'s holdings in United Parcel Service were worth $2,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Advisory Services Inc. raised its stake in United Parcel Service by 12.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 11,617 shares of the transportation company's stock worth $1,143,000 after buying an additional 1,263 shares during the period. Dimensional Fund Advisors LP grew its stake in United Parcel Service by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,037,626 shares of the transportation company's stock valued at $495,411,000 after acquiring an additional 271,646 shares during the period. Sound Shore Management Inc. CT acquired a new stake in United Parcel Service in the first quarter valued at approximately $71,627,000. Scarborough Advisors LLC bought a new stake in shares of United Parcel Service during the first quarter valued at approximately $55,000. Finally, Parallel Advisors LLC increased its holdings in shares of United Parcel Service by 3.8% during the first quarter. Parallel Advisors LLC now owns 21,220 shares of the transportation company's stock valued at $2,088,000 after acquiring an additional 780 shares in the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Stock Down 3.8%

Shares of NYSE:UPS opened at $113.19 on Tuesday. The business's 50 day moving average is $106.94 and its 200 day moving average is $106.24. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $122.41. The stock has a market cap of $96.21 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.87 and a beta of 1.05. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.05. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The business had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.99 billion. During the same period in the prior year, the firm posted $1.49 EPS. United Parcel Service's quarterly revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.1 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were paid a $1.64 dividend. The ex-dividend date was Monday, May 18th. This represents a $6.56 annualized dividend and a dividend yield of 5.8%. United Parcel Service's dividend payout ratio is presently 106.15%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Evercore cut their target price on United Parcel Service from $115.00 to $113.00 and set an "in-line" rating on the stock in a report on Wednesday, April 22nd. Citigroup lifted their price target on shares of United Parcel Service from $127.00 to $132.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of United Parcel Service from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, July 10th. UBS Group lowered their price objective on shares of United Parcel Service from $125.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Finally, Stephens raised shares of United Parcel Service to a "strong-buy" rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $111.10.

About United Parcel Service

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.