Envestnet Asset Management Inc. Purchases 166,406 Shares of United Parcel Service, Inc. (NYSE:UPS)

Envestnet Asset Management Inc. boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 12.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,463,762 shares of the transportation company's stock after purchasing an additional 166,406 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of United Parcel Service worth $160,999,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in United Parcel Service during the 4th quarter valued at about $25,000. Generali Investments Management Co LLC acquired a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. acquired a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $27,000. Citizens National Bank Trust Department raised its holdings in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after acquiring an additional 210 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in United Parcel Service during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

UPS has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of United Parcel Service from $140.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group reduced their price objective on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Barclays reduced their target price on shares of United Parcel Service from $100.00 to $90.00 and set an "underweight" rating for the company in a report on Monday, March 31st. 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, Raymond James Financial decreased their price objective on shares of United Parcel Service from $145.00 to $130.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $119.13.

United Parcel Service Stock Up 1.4%

Shares of UPS traded up $1.44 during trading hours on Thursday, reaching $103.59. 1,273,174 shares of the stock traded hands, compared to its average volume of 6,014,003. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $99.16 and a 200 day simple moving average of $109.38. United Parcel Service, Inc. has a 52 week low of $90.55 and a 52 week high of $148.15. The company has a market cap of $87.72 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.96 and a beta of 1.21.

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. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The business had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. During the same quarter last year, the company posted $1.43 earnings per share. The firm's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were paid a $1.64 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.33%. 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.