Summit X LLC Raises Stake in United Parcel Service, Inc. (NYSE:UPS)

by · The Cerbat Gem

Summit X LLC raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 93.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,677 shares of the transportation company’s stock after acquiring an additional 9,509 shares during the quarter. Summit X LLC’s holdings in United Parcel Service were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in United Parcel Service by 63.8% in the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after purchasing an additional 4,723 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of United Parcel Service in the fourth quarter worth $219,000. Madison Investment Advisors LLC purchased a new stake in United Parcel Service during the fourth quarter valued at $9,115,000. Harbour Investments Inc. increased its position in United Parcel Service by 4.3% during the fourth quarter. Harbour Investments Inc. now owns 12,507 shares of the transportation company’s stock valued at $1,577,000 after acquiring an additional 517 shares during the last quarter. Finally, GWN Securities Inc. bought a new position in United Parcel Service during the fourth quarter valued at $247,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Stock Down 0.6%

UPS stock opened at $99.53 on Wednesday. The company’s 50 day moving average price is $99.62 and its 200 day moving average price is $108.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. United Parcel Service, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $148.15. The firm has a market capitalization of $84.28 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.92 and a beta of 1.21.

United Parcel Service (NYSE:UPS – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a dividend of $1.64 per share. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.59%. United Parcel Service’s dividend payout ratio (DPR) is presently 95.63%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UPS. Loop Capital decreased their price objective on shares of United Parcel Service from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, April 30th. Bank of America raised their price objective on shares of United Parcel Service from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Hsbc Global Res cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Oppenheimer dropped their price target on shares of United Parcel Service from $126.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Susquehanna dropped their price target on shares of United Parcel Service from $120.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, United Parcel Service currently has an average rating of “Hold” and an average price target of $119.13.

Read Our Latest Analysis on UPS

About United Parcel Service

(Free Report)

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.

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