Westpac Banking Corp Has $661,000 Stake in United Parcel Service, Inc. (NYSE:UPS)

Westpac Banking Corp lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 61.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,244 shares of the transportation company’s stock after selling 8,229 shares during the quarter. Westpac Banking Corp’s holdings in United Parcel Service were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of UPS. OneAscent Financial Services LLC raised its stake in United Parcel Service by 13.5% in the fourth quarter. OneAscent Financial Services LLC now owns 2,571 shares of the transportation company’s stock valued at $324,000 after buying an additional 305 shares during the period. Kesler Norman & Wride LLC raised its stake in United Parcel Service by 3.4% in the 4th quarter. Kesler Norman & Wride LLC now owns 30,119 shares of the transportation company’s stock valued at $3,798,000 after acquiring an additional 989 shares during the period. RFG Bristol Wealth Advisors LLC acquired a new stake in United Parcel Service during the 4th quarter valued at $914,000. Potomac Fund Management Inc. ADV bought a new position in United Parcel Service during the fourth quarter worth $1,194,000. Finally, OV Management LLC increased its holdings in shares of United Parcel Service by 9.3% in the fourth quarter. OV Management LLC now owns 13,621 shares of the transportation company’s stock valued at $1,718,000 after purchasing an additional 1,161 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Baird R W cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. Robert W. Baird downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Wolfe Research raised United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 price target for the company in a report on Wednesday, January 8th. StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley dropped their target price on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service has an average rating of “Moderate Buy” and a consensus price target of $133.18.

United Parcel Service Trading Down 2.5 %

UPS opened at $97.62 on Friday. The company has a market cap of $83.39 billion, a P/E ratio of 14.44, a PEG ratio of 1.55 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The company’s 50 day moving average is $115.82 and its 200-day moving average is $125.64. United Parcel Service, Inc. has a 1-year low of $96.57 and a 1-year high of $153.42.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the previous year, the firm earned $2.47 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date was Tuesday, February 18th. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio is presently 97.04%.

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.