United Parcel Service, Inc. (NYSE:UPS) Shares Purchased by Summit Global Investments

Summit Global Investments lifted its position in United Parcel Service, Inc. (NYSE:UPS) by 302.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,429 shares of the transportation company’s stock after purchasing an additional 57,447 shares during the quarter. Summit Global Investments’ holdings in United Parcel Service were worth $9,638,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UPS. IMG Wealth Management Inc. acquired a new stake in United Parcel Service during the 4th quarter worth approximately $25,000. Generali Investments Management Co LLC acquired a new stake in United Parcel Service during the 4th quarter worth approximately $26,000. True Wealth Design LLC lifted its position 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 worth $29,000 after acquiring an additional 171 shares during the period. IFS Advisors LLC lifted its position in United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after acquiring an additional 151 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in United Parcel Service during the 3rd quarter worth approximately $36,000. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UPS has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on United Parcel Service from $150.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Stifel Nicolaus decreased their price objective on United Parcel Service from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Truist Financial began coverage on United Parcel Service in a research report on Thursday, March 13th. They set a “buy” rating and a $140.00 price objective for the company. The Goldman Sachs Group cut their target price on United Parcel Service from $166.00 to $147.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on United Parcel Service in a research note on Friday, March 7th. They set a “hold” rating and a $119.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.09.

United Parcel Service Stock Performance

NYSE UPS opened at $115.25 on Friday. The business has a 50 day moving average price of $120.13 and a 200 day moving average price of $127.02. The company has a market capitalization of $98.44 billion, a P/E ratio of 17.05, a PEG ratio of 1.55 and a beta of 0.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. United Parcel Service, Inc. has a 1-year low of $109.40 and a 1-year high of $158.95.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 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 quarter in the previous year, the firm posted $2.47 EPS. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date 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%.

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.