Comerica Bank Has $26.23 Million Position in United Parcel Service, Inc. (NYSE:UPS)

Comerica Bank cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 11.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 208,000 shares of the transportation company’s stock after selling 28,217 shares during the quarter. Comerica Bank’s holdings in United Parcel Service were worth $26,229,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in UPS. IMG Wealth Management Inc. acquired a new stake in shares of United Parcel Service in the 4th quarter valued at $25,000. Generali Investments Management Co LLC acquired a new stake in shares of United Parcel Service in the fourth quarter worth about $26,000. IFS Advisors LLC boosted its stake in shares of United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after acquiring an additional 151 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of United Parcel Service during the 4th quarter valued at about $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of United Parcel Service in the 4th quarter valued at approximately $31,000. 60.26% of the stock is owned by institutional investors.

United Parcel Service Trading Down 1.4 %

UPS stock opened at $95.38 on Thursday. 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 firm has a market cap of $81.47 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.55 and a beta of 1.10. United Parcel Service, Inc. has a 1-year low of $90.55 and a 1-year high of $153.42. The business’s 50 day moving average is $107.40 and its 200-day moving average is $120.79.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The firm had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were given a $1.64 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a yield of 6.88%. United Parcel Service’s payout ratio is 97.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Bank of America decreased their target price on United Parcel Service from $133.00 to $129.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Evercore ISI raised their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a research note on Wednesday, January 22nd. Raymond James dropped their target price on shares of United Parcel Service from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. UBS Group lowered their price target on United Parcel Service from $141.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Wolfe Research cut their price objective on United Parcel Service from $133.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.59.

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.