United Parcel Service (NYSE:UPS) Trading 1.4% Higher – Here’s What Happened

Shares of United Parcel Service, Inc. (NYSE:UPS) were up 1.4% during mid-day trading on Wednesday . The stock traded as high as $112.35 and last traded at $111.54. 2,146,090 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 4,512,462 shares. The stock had previously closed at $109.95.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on United Parcel Service from $166.00 to $147.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of United Parcel Service in a research report on Friday, March 7th. They set a “hold” rating and a $119.00 price objective for the company. Truist Financial assumed coverage on shares of United Parcel Service in a research report on Thursday, March 13th. They set a “buy” rating and a $140.00 target price on the stock. UBS Group reduced their price target on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Robert W. Baird lowered shares of United Parcel Service from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $130.00 in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.57.

United Parcel Service Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The company has a 50 day simple moving average of $118.92 and a 200-day simple moving average of $126.58. The stock has a market capitalization of $93.66 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period in the previous year, the company posted $2.47 EPS. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.98%. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s payout ratio is presently 97.04%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in United Parcel Service by 5.0% in the 3rd quarter. Fisher Asset Management LLC now owns 124,070 shares of the transportation company’s stock valued at $16,916,000 after purchasing an additional 5,956 shares during the period. The Manufacturers Life Insurance Company boosted its stake in United Parcel Service by 3.1% during the third quarter. The Manufacturers Life Insurance Company now owns 586,735 shares of the transportation company’s stock valued at $79,995,000 after buying an additional 17,378 shares during the period. Townsquare Capital LLC grew its position in United Parcel Service by 7.0% during the third quarter. Townsquare Capital LLC now owns 82,858 shares of the transportation company’s stock worth $11,297,000 after buying an additional 5,444 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of United Parcel Service by 23.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 14,532 shares of the transportation company’s stock valued at $1,981,000 after acquiring an additional 2,720 shares in the last quarter. Finally, Providence Capital Advisors LLC boosted its position in shares of United Parcel Service by 27.7% during the 3rd quarter. Providence Capital Advisors LLC now owns 25,795 shares of the transportation company’s stock valued at $3,517,000 after acquiring an additional 5,597 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

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.