United Parcel Service, Inc. (NYSE:UPS) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in United Parcel Service (UPS) by 10%, owning 326,541 shares valued at approximately $35.9 million after purchasing an additional 29,661 shares.
• UPS reported earnings of $1.49 per share for the last quarter, exceeding analysts' estimates, along with revenue of $21.50 billion, slightly above expected figures.
• The company recently declared a quarterly dividend of $1.64 per share, providing a notable annual yield of 6.33% despite a high payout ratio of 95.63%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 326,541 shares of the transportation company's stock after buying an additional 29,661 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in United Parcel Service were worth $35,916,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in UPS. Brighton Jones LLC boosted its stake in shares of United Parcel Service by 63.8% during the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock worth $1,529,000 after buying an additional 4,723 shares during the period. Pictet Asset Management Holding SA boosted its holdings in United Parcel Service by 15.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 426,393 shares of the transportation company's stock valued at $53,768,000 after purchasing an additional 55,650 shares in the last quarter. Allstate Corp purchased a new stake in United Parcel Service in the 4th quarter valued at approximately $2,736,000. Schroder Investment Management Group boosted its holdings in United Parcel Service by 6.9% in the 4th quarter. Schroder Investment Management Group now owns 190,286 shares of the transportation company's stock valued at $23,847,000 after purchasing an additional 12,286 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in United Parcel Service in the 4th quarter valued at approximately $304,000. Institutional investors and hedge funds own 60.26% of the company's stock.

United Parcel Service Stock Down 0.7%

Shares of NYSE:UPS traded down $0.59 during midday trading on Thursday, hitting $86.59. 7,128,456 shares of the company's stock traded hands, compared to its average volume of 6,169,250. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.09 and a current ratio of 1.32. The company has a market cap of $73.33 billion, a PE ratio of 12.89, a P/E/G ratio of 1.75 and a beta of 1.21. The firm's fifty day moving average price is $99.75 and its two-hundred day moving average price is $106.69. United Parcel Service, Inc. has a twelve month low of $85.76 and a twelve month high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. The business's revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 7.58%. United Parcel Service's dividend payout ratio is currently 97.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UPS shares. Redburn Atlantic lowered their price objective on United Parcel Service from $137.00 to $117.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. UBS Group lowered their price objective on United Parcel Service from $124.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday. Citigroup increased their target price on shares of United Parcel Service from $122.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Stephens dropped their target price on shares of United Parcel Service from $110.00 to $101.00 in a report on Wednesday, April 30th. Finally, Bernstein Bank increased their target price on shares of United Parcel Service from $132.00 to $133.00 in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service has an average rating of "Hold" and an average target price of $113.38.

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.