Precedent Wealth Partners LLC Buys 2,862 Shares of United Parcel Service, Inc. (NYSE:UPS)

Precedent Wealth Partners LLC boosted its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 43.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,487 shares of the transportation company's stock after acquiring an additional 2,862 shares during the period. Precedent Wealth Partners LLC's holdings in United Parcel Service were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in United Parcel Service during the fourth quarter worth approximately $1,075,393,000. Raymond James Financial Inc. bought a new position in United Parcel Service during the fourth quarter worth about $393,680,000. Franklin Resources Inc. boosted its holdings in United Parcel Service by 15.6% in the 4th quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock valued at $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company's stock valued at $2,933,674,000 after buying an additional 1,337,058 shares in the last quarter. Finally, Amundi increased its stake in United Parcel Service by 14.6% during the 4th quarter. Amundi now owns 10,040,863 shares of the transportation company's stock worth $1,272,600,000 after acquiring an additional 1,277,328 shares during the period. Institutional investors own 60.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer cut their price target on shares of United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Galvan Research reduced their price objective on United Parcel Service from $147.00 to $133.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $98.00 target price (down previously from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. BMO Capital Markets reduced their price target on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Susquehanna decreased their price objective on United Parcel Service from $120.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $120.26.

United Parcel Service Stock Up 1.1%

Shares of United Parcel Service stock traded up $1.07 on Monday, hitting $101.07. The company had a trading volume of 4,288,322 shares, compared to its average volume of 5,178,008. The stock has a market capitalization of $85.59 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.55 and a beta of 1.22. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $148.15. The stock has a 50 day moving average of $97.49 and a 200-day moving average of $112.52.

United Parcel Service (NYSE:UPS - Get Free Report) last posted 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. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. As a group, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm 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 was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.49%. United Parcel Service's dividend payout ratio 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.