Rockport Wealth LLC Purchases New Stake in United Parcel Service, Inc. (NYSE:UPS)

Rockport Wealth LLC purchased a new stake in shares of United Parcel Service, Inc. (NYSE:UPS) in the fourth quarter, Holdings Channel reports. The firm purchased 6,297 shares of the transportation company’s stock, valued at approximately $794,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in United Parcel Service during the 4th quarter valued at $25,000. IFS Advisors LLC raised its holdings in United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock valued at $27,000 after buying an additional 151 shares during the last quarter. True Wealth Design LLC raised its holdings in United Parcel Service by 397.7% during the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock valued at $29,000 after buying an additional 171 shares during the last quarter. Whipplewood Advisors LLC bought a new position in United Parcel Service in the 4th quarter worth $34,000. Finally, Hopwood Financial Services Inc. bought a new position in United Parcel Service in the 4th quarter worth $35,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of NYSE UPS opened at $116.90 on Monday. The firm’s 50-day moving average price is $120.91 and its 200-day moving average price is $127.38. 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 company has a market cap of $99.85 billion, a PE ratio of 17.29, a PEG ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a 52-week low of $109.40 and a 52-week high of $158.95.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results 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 net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the prior year, the firm posted $2.47 EPS. As a group, analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio is 97.04%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on UPS shares. 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. Truist Financial started coverage on shares of United Parcel Service in a report on Thursday. They issued a “buy” rating and a $140.00 price objective for the company. Evercore ISI upped their price objective on shares of United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a report on Wednesday, January 22nd. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Susquehanna decreased their price objective on shares of United Parcel Service from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Two investment 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 MarketBeat.com, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average target price of $138.09.

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.