United Parcel Service (NYSE:UPS) Trading Up 0.5% – Here’s What Happened

Shares of United Parcel Service, Inc. (NYSE:UPS) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $111.66 and last traded at $111.52. 752,158 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,463,004 shares. The stock had previously closed at $111.01.

Wall Street Analyst Weigh In

Several brokerages have commented on UPS. Truist Financial started coverage on United Parcel Service in a research note on Thursday, March 13th. They set a “buy” rating and a $140.00 target price on the stock. Loop Capital decreased their price objective on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of United Parcel Service from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore ISI lifted their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 22nd. Finally, StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, United Parcel Service currently has a consensus rating of “Moderate Buy” and an average price target of $137.57.

United Parcel Service Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average price of $119.30 and a two-hundred day moving average price of $126.68. The stock has a market cap of $94.62 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business posted $2.47 earnings per share. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 5.92%. The ex-dividend date was Tuesday, February 18th. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio is 97.04%.

Institutional Investors Weigh In On United Parcel Service

Several large investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in shares of United Parcel Service by 5.0% in the third 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 in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of United Parcel Service by 58.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 97,712 shares of the transportation company’s stock worth $13,322,000 after buying an additional 36,091 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of United Parcel Service by 3.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 586,735 shares of the transportation company’s stock worth $79,995,000 after buying an additional 17,378 shares during the last quarter. FMR LLC raised its position in shares of United Parcel Service by 3.7% during the 3rd quarter. FMR LLC now owns 10,627,550 shares of the transportation company’s stock valued at $1,448,960,000 after buying an additional 380,229 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of United Parcel Service in the 3rd quarter valued at about $336,000. 60.26% of the stock is owned by institutional investors.

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.