Meridian Wealth Management LLC Invests $1.32 Million in United Parcel Service, Inc. (NYSE:UPS)

Meridian Wealth Management LLC bought a new stake in United Parcel Service, Inc. (NYSE:UPS) during the third quarter, HoldingsChannel reports. The institutional investor bought 9,653 shares of the transportation company’s stock, valued at approximately $1,316,000.

A number of other large investors have also recently bought and sold shares of UPS. Natixis purchased a new position in shares of United Parcel Service during the first quarter valued at approximately $121,000. LRI Investments LLC acquired a new stake in shares of United Parcel Service during the first quarter worth $97,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of United Parcel Service by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock worth $611,445,000 after purchasing an additional 101,349 shares during the last quarter. SVB Wealth LLC increased its stake in United Parcel Service by 13.4% in the first quarter. SVB Wealth LLC now owns 18,619 shares of the transportation company’s stock valued at $2,767,000 after purchasing an additional 2,196 shares during the last quarter. Finally, Waverly Advisors LLC lifted its position in United Parcel Service by 1,199.0% during the first quarter. Waverly Advisors LLC now owns 83,344 shares of the transportation company’s stock worth $12,387,000 after buying an additional 76,928 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UPS shares. Argus raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen initiated coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 price target for the company. Susquehanna lifted their price target on shares of United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Stifel Nicolaus upped their price objective on United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Citigroup cut their target price on United Parcel Service from $163.00 to $158.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average price target of $151.52.

United Parcel Service Stock Performance

NYSE:UPS opened at $134.82 on Friday. The firm has a 50-day moving average of $132.98 and a two-hundred day moving average of $134.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $115.05 billion, a P/E ratio of 20.37, a PEG ratio of 2.16 and a beta of 0.99. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82.

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

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.84%. United Parcel Service’s dividend payout ratio is presently 98.49%.

United Parcel Service Company 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.