United Parcel Service (NYSE:UPS) Shares Up 2.4% – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS)’s stock price shot up 2.4% during trading on Tuesday . The stock traded as high as $133.00 and last traded at $132.81. 1,523,062 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 4,285,604 shares. The stock had previously closed at $129.73.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UPS. Evercore ISI lifted their target price on shares of United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Argus upgraded United Parcel Service from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their target price on United Parcel Service from $151.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wolfe Research raised shares of United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 target price on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of United Parcel Service from $134.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.10.

United Parcel Service Stock Up 2.2 %

The company’s 50-day simple moving average is $128.92 and its two-hundred day simple moving average is $130.83. The firm has a market capitalization of $113.14 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. The company had revenue of $22.20 billion for 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%. United Parcel Service’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS. As a group, research analysts expect that United Parcel Service, Inc. will post 7.49 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.92%. United Parcel Service’s payout ratio is currently 98.49%.

Insider Buying and Selling

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. This represents a 13.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On United Parcel Service

Hedge funds have recently made changes to their positions in the business. Ieq Capital LLC lifted its holdings in shares of United Parcel Service by 12.0% in the second quarter. Ieq Capital LLC now owns 14,352 shares of the transportation company’s stock worth $1,964,000 after buying an additional 1,532 shares in the last quarter. AE Wealth Management LLC increased its holdings in United Parcel Service by 67.1% in the 2nd quarter. AE Wealth Management LLC now owns 28,738 shares of the transportation company’s stock valued at $3,933,000 after acquiring an additional 11,537 shares during the last quarter. Sei Investments Co. lifted its stake in United Parcel Service by 9.4% in the 2nd quarter. Sei Investments Co. now owns 306,009 shares of the transportation company’s stock worth $41,875,000 after purchasing an additional 26,238 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of United Parcel Service by 12.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 169,903 shares of the transportation company’s stock valued at $23,251,000 after purchasing an additional 18,535 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in shares of United Parcel Service by 16.5% during the second quarter. Hancock Whitney Corp now owns 2,487 shares of the transportation company’s stock valued at $340,000 after purchasing an additional 352 shares in the last quarter. 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.