Wedbush Securities Inc. Reduces Position in United Parcel Service, Inc. (NYSE:UPS)

Wedbush Securities Inc. trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,572 shares of the transportation company’s stock after selling 1,034 shares during the period. Wedbush Securities Inc.’s holdings in United Parcel Service were worth $1,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in United Parcel Service in the 4th quarter valued at approximately $1,075,393,000. Raymond James Financial Inc. purchased a new stake in United Parcel Service during the 4th quarter worth about $393,680,000. Franklin Resources Inc. lifted its stake in shares of United Parcel Service by 15.6% during the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock valued at $1,384,567,000 after buying an additional 1,484,452 shares during the period. Van ECK Associates Corp grew its position in shares of United Parcel Service by 77.7% in the fourth 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of United Parcel Service by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock valued at $2,933,674,000 after acquiring an additional 1,337,058 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on UPS. Evercore ISI raised their price target on shares of United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a report on Wednesday, January 22nd. Loop Capital decreased their price target on United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. Citigroup dropped their target price on shares of United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group lowered their price target on shares of United Parcel Service from $166.00 to $147.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of United Parcel Service in a research note on Friday, March 7th. They set a “hold” rating and a $119.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.18.

United Parcel Service Trading Down 2.5 %

NYSE:UPS opened at $97.62 on Friday. The company’s 50 day moving average is $115.82 and its 200-day moving average is $125.60. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 12 month low of $96.57 and a 12 month high of $153.42. The firm has a market cap of $83.39 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping the consensus estimate 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 prior year, the firm posted $2.47 EPS. Equities analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 6.72%. United Parcel Service’s dividend payout ratio is presently 97.04%.

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.