United Parcel Service (NYSE:UPS) Given New $120.00 Price Target at Wells Fargo & Company

United Parcel Service (NYSE:UPS) had its target price cut by Wells Fargo & Company from $128.00 to $120.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on the stock. Baird R W cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on United Parcel Service in a report on Friday, March 7th. They set a “hold” rating and a $119.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. UBS Group decreased their target price on United Parcel Service from $170.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Bank of America dropped their price target on United Parcel Service from $133.00 to $129.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.57.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $109.66 on Thursday. The stock’s fifty day moving average is $118.52 and its 200 day moving average is $126.42. United Parcel Service has a one year low of $109.40 and a one year high of $154.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The stock has a market cap of $93.66 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same quarter in the previous year, the company posted $2.47 EPS. Sell-side analysts anticipate that United Parcel Service will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were issued a $1.64 dividend. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.98%. United Parcel Service’s payout ratio is 97.04%.

Institutional Trading of United Parcel Service

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in United Parcel Service by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 65,136,394 shares of the transportation company’s stock valued at $8,213,699,000 after acquiring an additional 370,705 shares during the last quarter. State Street Corp grew its holdings in United Parcel Service by 2.1% during the 3rd quarter. State Street Corp now owns 29,597,425 shares of the transportation company’s stock valued at $4,035,313,000 after purchasing an additional 613,409 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in United Parcel Service by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock worth $2,933,674,000 after purchasing an additional 1,337,058 shares during the period. Geode Capital Management LLC lifted its stake in United Parcel Service by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 15,704,334 shares of the transportation company’s stock worth $1,979,695,000 after purchasing an additional 414,710 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in United Parcel Service by 15.6% in the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock worth $1,384,567,000 after purchasing an additional 1,484,452 shares during the last quarter. 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.