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

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

Analyst Ratings Changes

Several brokerages recently weighed in on UPS. Wells Fargo & Company cut their target price on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. BNP Paribas Exane raised United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price objective on the stock in a research report on Thursday, July 3rd. Vertical Research reissued a “hold” rating and issued a $103.00 price objective on shares of United Parcel Service in a research report on Wednesday, July 30th. Citigroup cut their price objective on United Parcel Service from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. cut their price objective on United Parcel Service from $110.00 to $107.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, United Parcel Service has an average rating of “Hold” and an average price target of $110.16.

United Parcel Service Stock Up 1.4%

The firm has a 50 day moving average price of $86.20 and a two-hundred day moving average price of $95.32. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $73.56 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.60 and a beta of 1.10.

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

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date 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 (DPR) is currently 97.62%.

Insider Buying and Selling

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

Hedge Funds Weigh In On United Parcel Service

A number of hedge funds have recently bought and sold shares of UPS. Evelyn Partners Investment Management Europe Ltd grew its stake in United Parcel Service by 110.1% in the second 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. acquired a new position in United Parcel Service in the first quarter valued at approximately $26,000. Mid American Wealth Advisory Group Inc. acquired a new position in United Parcel Service in the second quarter valued at approximately $26,000. Citizens National Bank Trust Department boosted its stake in United Parcel Service by 525.0% in the first 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 during the period. Finally, Hemington Wealth Management boosted its stake in United Parcel Service by 68.9% in the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 115 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

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.