United Parcel Service (NYSE:UPS) Shares Up 1.4% – Here’s Why

Shares of United Parcel Service, Inc. (NYSE:UPS) were up 1.4% during trading on Friday . The company traded as high as $87.33 and last traded at $86.79. Approximately 7,085,556 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 6,765,861 shares. The stock had previously closed at $85.57.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on UPS shares. Barclays decreased their target price on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. Truist Financial cut their price target on United Parcel Service from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Galvan Research cut their price target on United Parcel Service from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, June 30th. Wells Fargo & Company cut their price target on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of United Parcel Service in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.16.

United Parcel Service Stock Performance

The stock has a market cap of $73.56 billion, a P/E ratio of 12.92, a PEG ratio of 1.60 and a beta of 1.10. The company has a fifty day moving average of $86.20 and a 200 day moving average of $95.32. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the previous year, the firm earned $1.79 EPS. United Parcel Service’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. United Parcel Service’s dividend payout ratio is currently 97.62%.

Insider Buying and Selling at United Parcel Service

In related news, CEO Carol B. Tome purchased 11,682 shares of the company’s stock in a transaction on Friday, August 1st. The shares were bought at an average price of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the acquisition, the chief executive officer owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christiana Smith Shi purchased 500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the acquisition, the director directly owned 500 shares of the company’s stock, valued at $44,085. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 17,182 shares of company stock valued at $1,477,382. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evelyn Partners Investment Management Europe Ltd grew its position in United Parcel Service by 110.1% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock worth $25,000 after purchasing an additional 131 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of United Parcel Service during the 1st quarter valued at $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of United Parcel Service during the 2nd quarter valued at $26,000. Citizens National Bank Trust Department grew its holdings in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 210 shares in the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of United Parcel Service by 68.9% during the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 115 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Company 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.