Evercore ISI Cuts United Parcel Service (NYSE:UPS) Price Target to $97.00

United Parcel Service (NYSE:UPS) had its price objective reduced by Evercore ISI from $103.00 to $97.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

UPS has been the topic of a number of other reports. Argus lowered their target price on United Parcel Service from $150.00 to $120.00 in a report on Friday, May 23rd. Stephens lowered their target price on United Parcel Service from $110.00 to $101.00 in a report on Wednesday, April 30th. Bank of America reaffirmed a “neutral” rating and set a $98.00 target price on shares of United Parcel Service in a report on Tuesday. Susquehanna lowered their target price on United Parcel Service from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Stifel Canada lowered their target price on United Parcel Service from $145.00 to $124.00 in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $112.81.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $84.54 on Wednesday. The firm’s 50-day simple moving average is $99.32 and its 200 day simple moving average is $106.14. The stock has a market cap of $71.59 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.56 and a beta of 1.12. United Parcel Service has a fifty-two week low of $84.28 and a fifty-two week high of $145.01. The company has a quick ratio of 1.09, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.

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

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 7.8%. United Parcel Service’s dividend payout ratio is currently 97.62%.

Insider Buying and Selling

In other news, Director William R. Johnson acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the acquisition, the director owned 10,160 shares of the company’s stock, valued at approximately $878,840. This represents a 96.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Hedge funds have recently added to or reduced their stakes in the company. Gallacher Capital Management LLC acquired a new position in United Parcel Service in the first quarter worth approximately $620,000. Garde Capital Inc. acquired a new position in United Parcel Service in the first quarter worth approximately $37,000. Golden State Wealth Management LLC increased its holdings in United Parcel Service by 61.3% in the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company’s stock worth $173,000 after buying an additional 599 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in United Parcel Service by 5.9% in the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company’s stock worth $381,000 after buying an additional 193 shares during the last quarter. Finally, Advisor Resource Council acquired a new position in United Parcel Service in the first quarter worth approximately $437,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

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.