Verity Asset Management Inc. Has $1.01 Million Stake in United Parcel Service, Inc. (NYSE:UPS)

Verity Asset Management Inc. lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 70.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,448 shares of the transportation company’s stock after purchasing an additional 3,068 shares during the quarter. Verity Asset Management Inc.’s holdings in United Parcel Service were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in UPS. Sittner & Nelson LLC boosted its position in United Parcel Service by 29.9% during the third quarter. Sittner & Nelson LLC now owns 3,854 shares of the transportation company’s stock worth $526,000 after purchasing an additional 888 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of United Parcel Service by 1.7% during the 3rd quarter. LS Investment Advisors LLC now owns 8,740 shares of the transportation company’s stock worth $1,192,000 after buying an additional 145 shares during the period. Beacon Harbor Wealth Advisors Inc. grew its stake in United Parcel Service by 22.5% in the 3rd quarter. Beacon Harbor Wealth Advisors Inc. now owns 51,442 shares of the transportation company’s stock valued at $7,014,000 after buying an additional 9,451 shares during the last quarter. Tandem Investment Advisors Inc. grew its stake in United Parcel Service by 5.5% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,663 shares of the transportation company’s stock valued at $227,000 after buying an additional 87 shares during the last quarter. Finally, Portside Wealth Group LLC raised its holdings in United Parcel Service by 11.5% in the 3rd quarter. Portside Wealth Group LLC now owns 15,264 shares of the transportation company’s stock valued at $2,081,000 after acquiring an additional 1,580 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UPS has been the topic of several research reports. The Goldman Sachs Group decreased their target price on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price objective on United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their target price on shares of United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Argus raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.71.

United Parcel Service Price Performance

Shares of UPS opened at $134.17 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The stock has a market cap of $114.93 billion, a PE ratio of 20.27, a PEG ratio of 2.20 and a beta of 0.99. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The business has a 50-day simple moving average of $131.83 and a two-hundred day simple moving average of $135.39.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.10 billion. During the same period last year, the company earned $1.57 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s dividend payout ratio is currently 98.49%.

United Parcel Service 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 express letters, documents, small packages, and palletized freight through air and ground services in the United States.