Summit X LLC Has $2.16 Million Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Summit X LLC raised its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 93.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 19,677 shares of the transportation company's stock after buying an additional 9,509 shares during the period. Summit X LLC's holdings in United Parcel Service were worth $2,164,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of UPS. Equity Investment Corp boosted its position in shares of United Parcel Service by 94.5% in the 1st quarter. Equity Investment Corp now owns 968,186 shares of the transportation company's stock worth $106,491,000 after purchasing an additional 470,472 shares during the last quarter. DDD Partners LLC bought a new position in shares of United Parcel Service in the 1st quarter worth $20,466,000. Larson Financial Group LLC boosted its position in shares of United Parcel Service by 18.6% in the 1st quarter. Larson Financial Group LLC now owns 9,746 shares of the transportation company's stock worth $1,072,000 after purchasing an additional 1,526 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in shares of United Parcel Service by 8.0% in the 1st quarter. Sage Mountain Advisors LLC now owns 16,391 shares of the transportation company's stock worth $1,803,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its holdings in United Parcel Service by 33.0% during the first quarter. Wealthfront Advisers LLC now owns 48,351 shares of the transportation company's stock worth $5,318,000 after acquiring an additional 11,998 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a report on Thursday, July 3rd. Citigroup lifted their target price on United Parcel Service from $122.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Susquehanna reduced their target price on United Parcel Service from $120.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. UBS Group reduced their target price 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, Bank of America lifted their target price on United Parcel Service from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $119.13.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded down $0.14 during trading on Thursday, reaching $99.49. 3,942,861 shares of the stock were exchanged, compared to its average volume of 5,250,684. United Parcel Service, Inc. has a 12 month low of $90.55 and a 12 month high of $148.15. The firm has a market cap of $84.25 billion, a PE ratio of 14.50, a PEG ratio of 1.91 and a beta of 1.21. The stock has a 50-day moving average price of $99.74 and a 200-day moving average price of $108.51. 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 quarterly earnings data 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. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The company 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 company posted $1.43 earnings per share. The business's revenue was down .9% on a year-over-year basis. Research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business 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 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service's dividend payout ratio (DPR) is currently 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.