United Parcel Service (NYSE:UPS – Free Report) had its target price cut by Bank of America from $190.00 to $177.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the transportation company’s stock.
A number of other equities analysts have also weighed in on the company. Barclays upped their target price on United Parcel Service from $172.00 to $180.00 and gave the stock an equal weight rating in a research report on Tuesday, August 8th. StockNews.com assumed coverage on United Parcel Service in a report on Thursday, August 17th. They set a hold rating for the company. Credit Suisse Group decreased their price target on United Parcel Service from $204.00 to $194.00 and set a neutral rating for the company in a report on Wednesday, August 9th. Stifel Nicolaus upped their price target on United Parcel Service to $203.00 in a report on Wednesday, July 26th. Finally, Oppenheimer upped their price target on United Parcel Service from $188.00 to $195.00 and gave the stock an outperform rating in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $187.38.
United Parcel Service Price Performance
United Parcel Service (NYSE:UPS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.05. United Parcel Service had a return on equity of 51.28% and a net margin of 10.41%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $23.04 billion. During the same period in the previous year, the firm earned $3.29 earnings per share. The company’s revenue was down 10.9% compared to the same quarter last year. On average, equities analysts anticipate that United Parcel Service will post 9.7 EPS for the current year.
United Parcel Service Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Monday, August 14th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $6.48 dividend on an annualized basis and a yield of 4.14%. United Parcel Service’s dividend payout ratio (DPR) is 56.20%.
Insider Buying and Selling
In other news, insider Nando Cesarone sold 22,825 shares of United Parcel Service stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the completion of the sale, the insider now owns 1 shares in the company, valued at approximately $171.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.12% of the stock is currently owned by insiders.
Institutional Investors Weigh In On United Parcel Service
Several hedge funds have recently added to or reduced their stakes in UPS. VisionPoint Advisory Group LLC purchased a new position in United Parcel Service in the second quarter worth about $25,000. IMA Wealth Inc. boosted its position in United Parcel Service by 100.0% in the second quarter. IMA Wealth Inc. now owns 142 shares of the transportation company’s stock worth $25,000 after purchasing an additional 71 shares during the last quarter. Pacific Center for Financial Services purchased a new position in United Parcel Service in the first quarter worth about $25,000. Worth Asset Management LLC purchased a new position in United Parcel Service in the first quarter worth about $27,000. Finally, Carolina Wealth Advisors LLC boosted its position in United Parcel Service by 216.0% in the second quarter. Carolina Wealth Advisors LLC now owns 158 shares of the transportation company’s stock worth $28,000 after purchasing an additional 108 shares during the last quarter. 58.45% of the stock is owned by institutional investors.
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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