Norges Bank Makes New $902.45 Million Investment in United Parcel Service, Inc. $UPS

Key Points

• Norges Bank disclosed a new position in United Parcel Service, buying 9.1 million shares worth about $902.45 million in the fourth quarter and ending up with 1.07% of the company.
• UPS reported quarterly earnings of $1.07 per share, topping estimates, while revenue came in at $21.20 billion and was down 1.4% from a year earlier.
• The company announced a quarterly dividend of $1.64 per share, implying an annualized yield of about 6.1%; meanwhile, analysts currently have a consensus rating of Hold with an average price target of $111.50.

Norges Bank bought a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,098,158 shares of the transportation company's stock, valued at approximately $902,446,000. Norges Bank owned 1.07% of United Parcel Service as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Shrier Wealth Management LLC bought a new stake in shares of United Parcel Service during the fourth quarter worth $1,099,000. Victory Capital Management Inc. increased its position in shares of United Parcel Service by 10.5% during the third quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company's stock worth $667,109,000 after acquiring an additional 761,217 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in shares of United Parcel Service by 192.7% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 19,734 shares of the transportation company's stock worth $1,957,000 after acquiring an additional 12,993 shares in the last quarter. Integrity Advisory Solutions LLC bought a new stake in shares of United Parcel Service during the third quarter worth $6,868,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of United Parcel Service by 5.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,470,790 shares of the transportation company's stock worth $122,855,000 after acquiring an additional 71,764 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPS has been the subject of several research reports. UBS Group lowered their price objective on shares of United Parcel Service from $125.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Citigroup increased their price objective on shares of United Parcel Service from $118.00 to $127.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of United Parcel Service from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. Evercore lowered their price objective on shares of United Parcel Service from $115.00 to $113.00 and set an "in-line" rating for the company in a research report on Wednesday, April 22nd. Finally, Susquehanna raised their target price on shares of United Parcel Service from $116.00 to $118.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $111.50.

United Parcel Service Stock Up 0.2%

United Parcel Service stock opened at $106.85 on Friday. The company has a market cap of $90.82 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $122.41. The company has a fifty day simple moving average of $101.02 and a 200 day simple moving average of $103.08. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50.

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

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Monday, May 18th will be given a $1.64 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a yield of 6.1%. United Parcel Service's dividend payout ratio (DPR) is 106.15%.

United Parcel Service Company Profile

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.

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