Summitry LLC Has $4.24 Million Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Summitry LLC grew its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 10.5% in the 4th quarter, Holdings Channel reports. The firm owned 33,638 shares of the transportation company’s stock after acquiring an additional 3,196 shares during the quarter. Summitry LLC’s holdings in United Parcel Service were worth $4,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in United Parcel Service during the fourth quarter worth $393,680,000. Two Sigma Advisers LP raised its position in shares of United Parcel Service by 833.4% in the 3rd quarter. Two Sigma Advisers LP now owns 2,074,100 shares of the transportation company’s stock worth $282,783,000 after acquiring an additional 1,851,900 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of United Parcel Service by 77.7% during the 4th quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock valued at $397,329,000 after purchasing an additional 1,378,136 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in United Parcel Service by 6.1% during the fourth 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. Finally, Amundi grew its stake in United Parcel Service by 14.6% during the fourth quarter. Amundi now owns 10,040,863 shares of the transportation company’s stock worth $1,272,600,000 after purchasing an additional 1,277,328 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Trading Down 5.0 %

NYSE UPS opened at $110.01 on Wednesday. The business’s fifty day moving average is $119.63 and its 200-day moving average is $126.79. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The stock has a market capitalization of $93.97 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a one year low of $109.40 and a one year high of $157.99.

United Parcel Service (NYSE:UPS) last released its earnings results 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 net margin of 6.35% and a return on equity of 39.13%. During the same period in the previous year, the business earned $2.47 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were given a $1.64 dividend. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Wall Street Analysts Forecast Growth

UPS has been the topic of several research analyst reports. Truist Financial began coverage on shares of United Parcel Service in a research note on Thursday, March 13th. They set a “buy” rating and a $140.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on United Parcel Service in a research note on Friday, March 7th. They issued a “hold” rating and a $119.00 target price for the company. Robert W. Baird lowered United Parcel Service from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $130.00 in a research report on Friday, January 31st. UBS Group reduced their price objective on United Parcel Service from $170.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Citigroup decreased their price objective on United Parcel Service from $158.00 to $149.00 and set a “buy” rating for the company in a report on Friday, January 31st. Two equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.91.

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.