Wedge Capital Management L L P NC Acquires 27,318 Shares of United Parcel Service, Inc. $UPS

Wedge Capital Management L L P NC increased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 25.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,332 shares of the transportation company’s stock after purchasing an additional 27,318 shares during the period. Wedge Capital Management L L P NC’s holdings in United Parcel Service were worth $11,137,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC boosted its position in United Parcel Service by 3.9% during the second quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company’s stock valued at $258,000 after buying an additional 97 shares during the period. Bangor Savings Bank lifted its stake in shares of United Parcel Service by 1.9% in the 2nd quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock valued at $546,000 after acquiring an additional 101 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in United Parcel Service by 0.9% during the 1st quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock valued at $1,256,000 after acquiring an additional 102 shares during the period. Fortis Capital Advisors LLC grew its position in United Parcel Service by 3.4% during the 1st quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock worth $350,000 after acquiring an additional 104 shares during the last quarter. Finally, Wright Investors Service Inc. increased its stake in United Parcel Service by 1.3% in the 2nd quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock worth $793,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on UPS shares. Stifel Nicolaus raised their price target on shares of United Parcel Service from $110.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. BMO Capital Markets reiterated a “market perform” rating and set a $96.00 target price (down from $125.00) on shares of United Parcel Service in a report on Friday, September 19th. Stephens raised United Parcel Service to a “hold” rating in a research report on Wednesday, October 29th. Bank of America cut their price objective on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating on the stock in a research report on Friday, September 26th. Finally, Citigroup upped their target price on United Parcel Service from $112.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $110.09.

United Parcel Service Stock Performance

Shares of UPS stock opened at $101.93 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50. The company’s fifty day moving average price is $93.97 and its 200-day moving average price is $92.76. The stock has a market cap of $86.48 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99.

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

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 17th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, November 17th. United Parcel Service’s payout ratio is currently 101.39%.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.