Sound Income Strategies LLC Increases Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Sound Income Strategies LLC lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 17.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 124,300 shares of the transportation company's stock after acquiring an additional 18,483 shares during the period. Sound Income Strategies LLC's holdings in United Parcel Service were worth $13,672,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Loop Capital cut their target price on United Parcel Service from $115.00 to $105.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company restated an "equal weight" rating and set a $98.00 target price (down previously from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price target on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Barclays reduced their price objective on shares of United Parcel Service from $100.00 to $90.00 and set an "underweight" rating on the stock in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $120.26.

United Parcel Service Stock Down 0.6%

Shares of UPS stock traded down $0.55 during trading hours on Wednesday, hitting $99.12. 4,344,045 shares of the company's stock traded hands, compared to its average volume of 5,173,447. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The stock's fifty day simple moving average is $97.68 and its two-hundred day simple moving average is $112.19. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15. The stock has a market cap of $83.93 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.77 and a beta of 1.22.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data 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. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business had revenue of $21.50 billion during the quarter, compared to analysts' expectations of $21.25 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm's quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Monday, May 19th. United Parcel Service's payout ratio is 95.63%.

United Parcel Service 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.