QRG Capital Management Inc. Acquires 2,850 Shares of United Parcel Service, Inc. (NYSE:UPS)

QRG Capital Management Inc. raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,544 shares of the transportation company's stock after buying an additional 2,850 shares during the quarter. QRG Capital Management Inc.'s holdings in United Parcel Service were worth $11,059,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of UPS. Allspring Global Investments Holdings LLC raised its stake in United Parcel Service by 27.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company's stock valued at $16,304,000 after purchasing an additional 28,108 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of United Parcel Service by 14.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 11,427 shares of the transportation company's stock worth $1,441,000 after purchasing an additional 1,440 shares during the period. LaFleur & Godfrey LLC lifted its stake in shares of United Parcel Service by 62.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 6,225 shares of the transportation company's stock valued at $785,000 after buying an additional 2,401 shares during the period. Argyle Capital Management LLC grew its position in United Parcel Service by 11.4% during the fourth quarter. Argyle Capital Management LLC now owns 26,428 shares of the transportation company's stock worth $3,333,000 after buying an additional 2,695 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in United Parcel Service by 63.8% during the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock valued at $1,529,000 after acquiring an additional 4,723 shares during the period. 60.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UPS has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $120.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays decreased their price target on shares of United Parcel Service from $100.00 to $90.00 and set an "underweight" rating on the stock in a research note on Monday, March 31st. Oppenheimer dropped their price objective on shares of United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. HSBC downgraded shares of 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. Finally, UBS Group lowered their target price on shares of United Parcel Service from $141.00 to $127.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $120.26.

United Parcel Service Stock Up 1.1%

Shares of NYSE:UPS opened at $101.07 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The firm has a market cap of $85.59 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.55 and a beta of 1.22. 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 $97.68 and its two-hundred day moving average price is $112.27.

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, topping analysts' consensus estimates of $1.38 by $0.11. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. United Parcel Service's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 6.49%. United Parcel Service's payout ratio is 95.63%.

United Parcel Service Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.