United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Summit Global Investments

Summit Global Investments lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 59.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,982 shares of the transportation company’s stock after selling 27,750 shares during the period. Summit Global Investments’ holdings in United Parcel Service were worth $2,588,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Verity Asset Management Inc. boosted its position in United Parcel Service by 70.0% during the third quarter. Verity Asset Management Inc. now owns 7,448 shares of the transportation company’s stock worth $1,014,000 after purchasing an additional 3,068 shares in the last quarter. Sittner & Nelson LLC raised its stake in shares of United Parcel Service by 29.9% during the 3rd quarter. Sittner & Nelson LLC now owns 3,854 shares of the transportation company’s stock worth $526,000 after buying an additional 888 shares during the period. LS Investment Advisors LLC lifted its position in shares of United Parcel Service by 1.7% during the 3rd quarter. LS Investment Advisors LLC now owns 8,740 shares of the transportation company’s stock valued at $1,192,000 after buying an additional 145 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. grew its stake in United Parcel Service by 22.5% in the 3rd quarter. Beacon Harbor Wealth Advisors Inc. now owns 51,442 shares of the transportation company’s stock valued at $7,014,000 after acquiring an additional 9,451 shares during the period. Finally, Tandem Investment Advisors Inc. increased its holdings in United Parcel Service by 5.5% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,663 shares of the transportation company’s stock worth $227,000 after acquiring an additional 87 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

UPS stock opened at $134.17 on Friday. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The company has a quick ratio of 1.25, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The stock has a market cap of $114.93 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The business has a fifty day moving average of $131.83 and a two-hundred day moving average of $135.39.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is 98.49%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on UPS shares. JPMorgan Chase & Co. decreased their price objective on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. UBS Group raised their price target on shares of United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Oppenheimer boosted their price objective on United Parcel Service from $140.00 to $146.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Citigroup assumed coverage on United Parcel Service in a research report on Wednesday, October 9th. They issued a “buy” rating and a $162.00 target price on the stock. Finally, Wells Fargo & Company increased their price objective on United Parcel Service from $134.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average target price of $151.71.

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.