United Parcel Service (NYSE:UPS – Free Report) had its price objective cut by Evercore ISI from $185.00 to $179.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have an in-line rating on the transportation company’s stock.
Other equities research analysts have also issued reports about the stock. Barclays boosted their price objective on shares of United Parcel Service from $172.00 to $180.00 and gave the company an equal weight rating in a report on Tuesday, August 8th. StockNews.com started coverage on shares of United Parcel Service in a research report on Thursday, August 17th. They issued a hold rating for the company. Stifel Nicolaus upped their price target on shares of United Parcel Service to $203.00 in a research report on Wednesday, July 26th. JPMorgan Chase & Co. upped their price target on shares of United Parcel Service from $181.00 to $186.00 and gave the stock a neutral rating in a research report on Wednesday, August 9th. Finally, Bank of America cut their price objective on shares of United Parcel Service from $190.00 to $177.00 and set a neutral rating for the company in a report on Tuesday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, United Parcel Service has a consensus rating of Hold and an average price target of $187.38.
United Parcel Service Stock Performance
United Parcel Service (NYSE:UPS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The transportation company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.05. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $23.04 billion. United Parcel Service had a net margin of 10.41% and a return on equity of 51.28%. United Parcel Service’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.29 earnings per share. As a group, equities analysts forecast that United Parcel Service will post 9.7 earnings per share for the current year.
United Parcel Service Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 14th were given a $1.62 dividend. The ex-dividend date was Friday, August 11th. This represents a $6.48 annualized dividend and a yield of 4.14%. United Parcel Service’s dividend payout ratio is presently 56.20%.
Insider Buying and Selling at United Parcel Service
In other news, insider Nando Cesarone sold 22,825 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $171.70, for a total value of $3,919,052.50. Following the sale, the insider now directly owns 1 shares in the company, valued at approximately $171.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On United Parcel Service
Hedge funds and other institutional investors have recently modified their holdings of the company. RB Capital Management LLC raised its stake in United Parcel Service by 3.1% during the 1st quarter. RB Capital Management LLC now owns 2,689 shares of the transportation company’s stock worth $577,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC acquired a new position in shares of United Parcel Service during the first quarter worth about $1,162,000. Halbert Hargrove Global Advisors LLC raised its stake in shares of United Parcel Service by 10.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 1,233 shares of the transportation company’s stock worth $264,000 after buying an additional 112 shares in the last quarter. First Western Trust Bank purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $515,000. Finally, Stevens Capital Management LP purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $701,000. 58.45% of the stock is currently owned by institutional investors and hedge funds.
United Parcel Service Company Profile
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 letters, documents, small packages, and palletized freight through air and ground services in the United States.
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