VELA Investment Management LLC Buys New Position in United Parcel Service, Inc. (NYSE:UPS)

VELA Investment Management LLC acquired a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,841 shares of the transportation company's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UPS. Norges Bank bought a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $1,075,393,000. Franklin Resources Inc. raised its position 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 buying an additional 1,484,452 shares during the last quarter. Amundi raised its position in shares of United Parcel Service by 14.6% during the fourth 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. Castlekeep Investment Advisors LLC bought a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $145,846,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of United Parcel Service by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company's stock valued at $815,102,000 after buying an additional 1,064,293 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Stock Down 1.2%

Shares of UPS stock traded down $1.30 during trading hours on Friday, reaching $104.24. 2,961,254 shares of the company's stock were exchanged, compared to its average volume of 5,227,763. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $148.15. The stock has a market cap of $88.27 billion, a PE ratio of 15.20, a PEG ratio of 2.01 and a beta of 1.21. 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's fifty day moving average price is $98.83 and its two-hundred day moving average price is $109.75.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates 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 for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed 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 yield of 6.29%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service's dividend payout ratio is currently 95.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UPS. UBS Group cut their target price on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday. Susquehanna cut their target price on shares of United Parcel Service from $120.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $98.00 price objective (down from $120.00) on shares of United Parcel Service in a research note on Tuesday, April 22nd. Bank of America lifted their price objective on shares of United Parcel Service from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Raymond James Financial dropped their price objective on shares of United Parcel Service from $145.00 to $130.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $119.29.

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.