State Treasurer State of Michigan increased its position in United Parcel Service, Inc. (NYSE:UPS) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,886 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the period. State Treasurer State of Michigan’s holdings in United Parcel Service were worth $24,102,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPS. Massey Quick Simon & CO. LLC grew its holdings in shares of United Parcel Service by 2,857.1% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,035 shares of the transportation company’s stock worth $108,000 after acquiring an additional 1,000 shares during the period. First PREMIER Bank acquired a new stake in shares of United Parcel Service in the 2nd quarter worth approximately $109,000. Legacy Financial Advisors Inc. acquired a new stake in shares of United Parcel Service in the 2nd quarter worth approximately $111,000. Signature Wealth Management Group acquired a new stake in shares of United Parcel Service in the 2nd quarter worth approximately $118,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of United Parcel Service in the 1st quarter worth approximately $119,000. Institutional investors and hedge funds own 53.51% of the company’s stock.
In other United Parcel Service news, SVP Kathleen M. Gutmann sold 1,700 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $119.92, for a total transaction of $203,864.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Stephens set a $128.00 price target on United Parcel Service and gave the stock a “hold” rating in a report on Wednesday, July 25th. BMO Capital Markets upped their price target on United Parcel Service to $128.00 and gave the stock a “market perform” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $125.00 price target on shares of United Parcel Service in a report on Thursday, July 26th. Credit Suisse Group upped their price target on United Parcel Service from $114.00 to $119.00 and gave the stock a “neutral” rating in a report on Thursday, July 26th. Finally, Morgan Stanley upped their target price on United Parcel Service from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. United Parcel Service presently has a consensus rating of “Hold” and a consensus target price of $122.99.
UPS stock opened at $121.80 on Friday. United Parcel Service, Inc. has a 1 year low of $101.45 and a 1 year high of $135.53. The company has a debt-to-equity ratio of 8.54, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $102.61 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.78 and a beta of 1.14.
United Parcel Service (NYSE:UPS) last posted its earnings results on Wednesday, July 25th. The transportation company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.01. United Parcel Service had a return on equity of 364.89% and a net margin of 7.49%. The firm had revenue of $17.46 billion for the quarter, compared to analyst estimates of $17.34 billion. During the same quarter in the prior year, the company earned $1.58 EPS. United Parcel Service’s revenue was up 9.6% on a year-over-year basis. analysts expect that United Parcel Service, Inc. will post 7.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Monday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, August 17th. United Parcel Service’s dividend payout ratio is presently 60.57%.
United Parcel Service Company Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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