Bank of America Raises United Parcel Service (NYSE:UPS) Price Target to $160.00

United Parcel Service (NYSE:UPS) had its target price boosted by Bank of America from $157.00 to $160.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

Other analysts also recently issued reports about the company. Argus downgraded United Parcel Service from a buy rating to a hold rating in a research report on Wednesday, January 31st. Daiwa Capital Markets downgraded United Parcel Service from an outperform rating to a neutral rating and set a $155.00 price target for the company. in a research report on Tuesday, December 26th. Raymond James lowered their price target on United Parcel Service from $185.00 to $175.00 and set a strong-buy rating for the company in a research report on Wednesday, January 31st. TheStreet upgraded United Parcel Service from a c rating to a b- rating in a research note on Tuesday, January 30th. Finally, Oppenheimer increased their target price on United Parcel Service from $153.00 to $157.00 and gave the stock an outperform rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $166.09.

United Parcel Service Stock Down 1.5 %

NYSE UPS opened at $146.61 on Wednesday. The company has a market capitalization of $125.01 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.73 and a beta of 1.05. The stock has a 50 day moving average price of $149.57 and a 200-day moving average price of $151.03. United Parcel Service has a one year low of $133.68 and a one year high of $192.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.10 and a current ratio of 1.10.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $21.70 billion during the quarter, compared to the consensus estimate of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. United Parcel Service’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $2.20 earnings per share. As a group, equities analysts predict that United Parcel Service will post 8.2 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.62. United Parcel Service’s payout ratio is 94.49%.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director Eva C. Boratto purchased 1,400 shares of the stock in a transaction on Friday, February 2nd. The stock was acquired at an average price of $142.30 per share, with a total value of $199,220.00. Following the completion of the acquisition, the director now owns 1,400 shares in the company, valued at $199,220. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On United Parcel Service

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in shares of United Parcel Service by 15,631.2% during the fourth quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock worth $2,280,190,000 after purchasing an additional 14,410,073 shares during the period. Wellington Management Group LLP lifted its holdings in shares of United Parcel Service by 87.6% during the fourth quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock worth $2,854,180,000 after purchasing an additional 8,475,698 shares during the period. Norges Bank acquired a new stake in shares of United Parcel Service during the fourth quarter worth about $1,128,322,000. First Trust Advisors LP lifted its holdings in shares of United Parcel Service by 208.1% during the fourth quarter. First Trust Advisors LP now owns 1,717,391 shares of the transportation company’s stock worth $270,025,000 after purchasing an additional 1,160,005 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of United Parcel Service by 11.4% during the fourth quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after purchasing an additional 980,317 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

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.