QRG Capital Management Inc. Purchases 2,850 Shares of United Parcel Service, Inc. (NYSE:UPS)

QRG Capital Management Inc. raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 2.9% during the first quarter, HoldingsChannel.com reports. The firm owned 100,544 shares of the transportation company’s stock after acquiring an additional 2,850 shares during the quarter. QRG Capital Management Inc.’s holdings in United Parcel Service were worth $11,059,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of UPS. LaFleur & Godfrey LLC raised its position in shares of United Parcel Service by 62.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 6,225 shares of the transportation company’s stock valued at $785,000 after acquiring an additional 2,401 shares during the last quarter. Brighton Jones LLC grew its stake in shares of United Parcel Service by 63.8% during the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after purchasing an additional 4,723 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in United Parcel Service by 27.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after purchasing an additional 28,108 shares during the last quarter. Principal Securities Inc. increased its holdings in United Parcel Service by 2.9% in the fourth quarter. Principal Securities Inc. now owns 42,247 shares of the transportation company’s stock valued at $5,327,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in United Parcel Service in the fourth quarter valued at about $5,358,000. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 1.1%

United Parcel Service stock opened at $101.07 on Tuesday. The company has a fifty day simple moving average of $97.68 and a 200 day simple moving average of $112.27. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 1-year low of $90.55 and a 1-year high of $148.15. The company has a market cap of $85.59 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $21.50 billion during the quarter, compared to analysts’ expectations of $21.25 billion. During the same quarter last year, the company earned $1.43 EPS. United Parcel Service’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Monday, May 19th. United Parcel Service’s dividend payout ratio is currently 95.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UPS. UBS Group lowered their price target on United Parcel Service from $141.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. BMO Capital Markets reduced their price target on shares of United Parcel Service from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. HSBC cut shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Thursday, May 1st. Stifel Nicolaus reduced their target price on United Parcel Service from $145.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America increased their price target on United Parcel Service from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Hold” and a consensus price target of $120.26.

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.