Elevation Point Wealth Partners LLC raised its stake in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 926.4% during the 1st quarter, Holdings Channel reports. The fund owned 36,695 shares of the transportation company’s stock after purchasing an additional 33,120 shares during the period. Elevation Point Wealth Partners LLC’s holdings in United Parcel Service were worth $3,610,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of United Parcel Service during the 4th quarter worth approximately $902,446,000. Victory Capital Management Inc. lifted its position in United Parcel Service by 72.9% during the fourth quarter. Victory Capital Management Inc. now owns 13,818,314 shares of the transportation company’s stock valued at $1,370,639,000 after acquiring an additional 5,826,824 shares during the last quarter. AQR Capital Management LLC boosted its stake in United Parcel Service by 175.7% in the fourth quarter. AQR Capital Management LLC now owns 5,200,135 shares of the transportation company’s stock valued at $515,801,000 after acquiring an additional 3,314,166 shares in the last quarter. Pacer Advisors Inc. grew its holdings in United Parcel Service by 507.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,244,234 shares of the transportation company’s stock worth $321,796,000 after purchasing an additional 2,710,470 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in United Parcel Service in the fourth quarter worth $181,951,000. 60.26% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Susquehanna increased their price objective on United Parcel Service from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group dropped their target price on United Parcel Service from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citigroup upped their target price on United Parcel Service from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings cut United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Evercore lowered their price target on United Parcel Service from $115.00 to $113.00 and set an “in-line” rating for the company in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $110.85.
United Parcel Service Price Performance
Shares of UPS opened at $110.71 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $104.91 and its 200-day moving average price is $105.25. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $122.41. The firm has a market capitalization of $94.11 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05.
United Parcel Service (NYSE:UPS – Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The company had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the business posted $1.49 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that United Parcel Service, Inc. will post 7.1 EPS for the current year.
United Parcel Service Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Monday, May 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 106.15%.
United Parcel Service Profile
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.
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