Norway Savings Bank Cuts Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Norway Savings Bank trimmed its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 15.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,181 shares of the transportation company’s stock after selling 1,441 shares during the quarter. Norway Savings Bank’s holdings in United Parcel Service were worth $1,216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of United Parcel Service by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 67,218,714 shares of the transportation company’s stock worth $10,568,798,000 after acquiring an additional 178,394 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of United Parcel Service by 87.6% during the 4th quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock valued at $2,854,180,000 after purchasing an additional 8,475,698 shares during the last quarter. International Assets Investment Management LLC raised its position in United Parcel Service by 15,631.2% in the 4th quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock worth $2,280,190,000 after purchasing an additional 14,410,073 shares during the period. Franklin Resources Inc. lifted its stake in United Parcel Service by 11.4% in the fourth quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after purchasing an additional 980,317 shares during the last quarter. Finally, Norges Bank purchased a new stake in United Parcel Service during the fourth quarter valued at about $1,128,322,000. Institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC upgraded United Parcel Service from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $170.00 in a report on Thursday, April 25th. Wells Fargo & Company initiated coverage on United Parcel Service in a research report on Friday, June 7th. They issued an “overweight” rating and a $156.00 price objective for the company. Susquehanna raised their target price on shares of United Parcel Service from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. BMO Capital Markets lifted their target price on shares of United Parcel Service from $165.00 to $169.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Finally, TD Cowen dropped their price target on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $164.55.

United Parcel Service Stock Up 0.8 %

Shares of NYSE:UPS opened at $136.85 on Friday. The firm has a market capitalization of $117.08 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.72 and a beta of 1.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.10. The stock has a 50 day moving average price of $141.71 and a 200-day moving average price of $148.61. United Parcel Service, Inc. has a 52-week low of $132.90 and a 52-week high of $192.98.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The business had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 8.22 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 13th were given a dividend of $1.63 per share. The ex-dividend date was Friday, May 10th. This represents a $6.52 dividend on an annualized basis and a yield of 4.76%. United Parcel Service’s dividend payout ratio (DPR) is currently 94.49%.

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.