United Parcel Service (NYSE:UPS) Trading 2.7% Higher – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS) shot up 2.7% during mid-day trading on Wednesday . The company traded as high as $98.25 and last traded at $98.1550. 7,145,461 shares traded hands during trading, an increase of 4% from the average session volume of 6,850,363 shares. The stock had previously closed at $95.58.

Analyst Upgrades and Downgrades

UPS has been the subject of several recent analyst reports. Stephens raised shares of United Parcel Service to a “hold” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of United Parcel Service in a report on Wednesday, October 8th. Citigroup lifted their price objective on United Parcel Service from $112.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Stifel Nicolaus reduced their target price on United Parcel Service from $120.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on United Parcel Service from $85.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $110.00.

United Parcel Service Stock Performance

The stock’s 50-day moving average is $91.02 and its 200-day moving average is $92.62. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50. The stock has a market cap of $80.50 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 2.26 and a beta of 1.11.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.43. United Parcel Service had a net margin of 6.15% and a return on equity of 40.07%. The company had revenue of $21.42 billion during the quarter, compared to the consensus estimate of $20.94 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. United Parcel Service’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 6.9%. The ex-dividend date was Monday, November 17th. United Parcel Service’s dividend payout ratio is currently 101.39%.

Institutional Investors Weigh In On United Parcel Service

Large investors have recently modified their holdings of the stock. Cornerstone Wealth Group LLC grew its holdings in shares of United Parcel Service by 3.9% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company’s stock worth $258,000 after purchasing an additional 97 shares in the last quarter. Bangor Savings Bank raised its stake in United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock valued at $546,000 after purchasing an additional 101 shares in the last quarter. First Dallas Securities Inc. lifted its position in United Parcel Service by 0.9% during the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock worth $1,256,000 after purchasing an additional 102 shares during the period. Fortis Capital Advisors LLC grew its stake in United Parcel Service by 3.4% during the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock worth $350,000 after buying an additional 104 shares in the last quarter. Finally, Wright Investors Service Inc. increased its holdings in United Parcel Service by 1.3% in the 2nd quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock valued at $793,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Company 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.