United Parcel Service (NYSE:UPS) Trading Up 2.9% – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS)’s stock price shot up 2.9% during trading on Wednesday . The stock traded as high as $100.11 and last traded at $99.7870. 7,147,985 shares were traded during trading, an increase of 4% from the average session volume of 6,844,169 shares. The stock had previously closed at $96.97.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on United Parcel Service from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Citigroup upped their target price on United Parcel Service from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their target price on United Parcel Service from $85.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Stifel Nicolaus dropped their price target on United Parcel Service from $120.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Finally, Truist Financial raised their price objective on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $110.00.

United Parcel Service Trading Up 0.4%

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $85.61 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11. The firm has a fifty day moving average price of $92.40 and a 200-day moving average price of $92.71.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.43. The firm had revenue of $21.42 billion during the quarter, compared to the consensus estimate of $20.94 billion. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 17th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Monday, November 17th. United Parcel Service’s dividend payout ratio is presently 101.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of United Parcel Service by 0.6% during the third quarter. Vanguard Group Inc. now owns 67,277,988 shares of the transportation company’s stock worth $5,619,730,000 after purchasing an additional 372,850 shares during the period. State Street Corp increased its position in United Parcel Service by 0.9% during the 3rd quarter. State Street Corp now owns 31,063,250 shares of the transportation company’s stock valued at $2,594,713,000 after buying an additional 288,720 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 25,792,139 shares of the transportation company’s stock worth $2,603,459,000 after purchasing an additional 746,667 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of United Parcel Service by 4.8% in the second quarter. Geode Capital Management LLC now owns 16,623,834 shares of the transportation company’s stock worth $1,675,733,000 after buying an additional 762,407 shares in the last quarter. Finally, Norges Bank purchased a new stake in United Parcel Service during the 2nd quarter valued at $851,842,000. Institutional investors own 60.26% of the company’s stock.

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.