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

Precedent Wealth Partners LLC grew its stake 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 institutional investor owned 9,487 shares of the transportation company's stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in United Parcel Service in the fourth quarter valued at approximately $1,075,393,000. Raymond James Financial Inc. acquired a new position in United Parcel Service in the 4th quarter worth about $393,680,000. Franklin Resources Inc. boosted its stake in shares of United Parcel Service by 15.6% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 during the period. Finally, Amundi raised its holdings in United Parcel Service by 14.6% in the 4th quarter. Amundi now owns 10,040,863 shares of the transportation company's stock valued at $1,272,600,000 after buying an additional 1,277,328 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Stock Down 0.6%

Shares of NYSE UPS traded down $0.55 during mid-day trading on Thursday, reaching $99.12. 4,361,721 shares of the company's stock traded hands, compared to its average volume of 5,177,795. The stock has a market cap of $83.93 billion, a P/E ratio of 14.45, a PEG ratio of 1.75 and a beta of 1.22. United Parcel Service, Inc. has a 1-year low of $90.55 and a 1-year high of $148.15. The business has a 50-day simple moving average of $97.67 and a 200 day simple moving average of $112.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. The business had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. United Parcel Service's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. On average, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the company. Oppenheimer cut their target price on United Parcel Service from $126.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group cut their price objective on 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. JPMorgan Chase & Co. decreased their target price on shares of 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. BMO Capital Markets dropped their price target on shares of 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. Finally, Wolfe Research decreased their price objective on shares of United Parcel Service from $133.00 to $113.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $120.26.

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.