United Parcel Service (NYSE:UPS) Trading Up 1.4% After Dividend Announcement

United Parcel Service, Inc. (NYSE:UPS)’s stock price rose 1.4% on Thursday after the company announced a dividend. The stock traded as high as $95.71 and last traded at $95.24. Approximately 1,201,517 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 4,970,426 shares. The stock had previously closed at $93.96.

The newly announced dividend which will be paid on Thursday, June 5th. Investors of record on Monday, May 19th will be given a dividend of $1.64 per share. The ex-dividend date is Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.84%. United Parcel Service’s dividend payout ratio is presently 95.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on UPS shares. Baird R W lowered shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. StockNews.com downgraded United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company restated an “equal weight” rating and issued a $98.00 price objective (down from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. Stifel Nicolaus decreased their target price on United Parcel Service from $145.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, HSBC lowered shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $120.87.

United Parcel Service Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The company has a market cap of $81.93 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.55 and a beta of 1.23. The firm has a 50 day simple moving average of $104.28 and a 200-day simple moving average of $118.93.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $1.43 EPS. As a group, analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

Institutional Trading of United Parcel Service

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after acquiring an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in United Parcel Service during the 4th quarter worth approximately $461,000. HF Advisory Group LLC acquired a new stake in United Parcel Service during the 4th quarter worth approximately $1,305,000. Allspring Global Investments Holdings LLC boosted its position in United Parcel Service by 27.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after buying an additional 28,108 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its position in United Parcel Service by 42.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 34,113 shares of the transportation company’s stock valued at $4,302,000 after buying an additional 10,176 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

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.