United Parcel Service, Inc. (NYSE:UPS - Get Free Report) shares fell 2.6% on Tuesday after Bank of America lowered their price target on the stock from $98.00 to $91.00. Bank of America currently has a buy rating on the stock. United Parcel Service traded as low as $85.12 and last traded at $85.15. 3,196,005 shares were traded during trading, a decline of 51% from the average session volume of 6,463,266 shares. The stock had previously closed at $87.44.
Several other research analysts have also issued reports on UPS. Galvan Research cut their target price on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research note on Monday, June 30th. Oppenheimer decreased their target price on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. BNP Paribas upgraded United Parcel Service to a "hold" rating in a research report on Thursday, July 3rd. Citigroup cut their price objective on United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Finally, Wall Street Zen cut shares of United Parcel Service from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $112.59.
Get Our Latest Stock Report on UPS
Insiders Place Their Bets
In other United Parcel Service news, CEO Carol B. Tome purchased 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares of the company's stock, valued at $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Johnson bought 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director owned 10,160 shares of the company's stock, valued at $878,840. The trade was a 96.90% increase in their position. The disclosure for this purchase can be found here. Insiders bought 17,182 shares of company stock worth $1,477,382 in the last 90 days. Corporate insiders own 0.13% of the company's stock.
Institutional Trading of United Parcel Service
A number of hedge funds and other institutional investors have recently modified their holdings of UPS. Evelyn Partners Investment Management Europe Ltd boosted its stake in United Parcel Service by 110.1% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company's stock valued at $25,000 after purchasing an additional 131 shares during the period. Graybill Wealth Management LTD. bought a new position in United Parcel Service during the first quarter worth $26,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of United Parcel Service in the second quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new position in United Parcel Service in the 4th quarter valued at approximately $27,000. Finally, Citizens National Bank Trust Department raised its stake in 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 worth $27,000 after buying an additional 210 shares during the last quarter. Institutional investors own 60.26% of the company's stock.
United Parcel Service Stock Down 2.9%
The firm has a market cap of $71.95 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. The stock's 50 day simple moving average is $94.42 and its 200 day simple moving average is $100.71.
United Parcel Service (NYSE:UPS - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. During the same period last year, the firm posted $1.79 EPS. The company's revenue was down 2.7% on a year-over-year basis. Research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.
United Parcel Service Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be issued a dividend of $1.64 per share. The ex-dividend date is Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.7%. United Parcel Service's dividend payout ratio is 97.62%.
About United Parcel Service
(
Get Free Report)
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.
Further Reading
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