United Parcel Service (NYSE:UPS) Trading Down 0.4% After Analyst Downgrade

United Parcel Service, Inc. (NYSE:UPS) shares dropped 0.4% on Wednesday after Citigroup lowered their price target on the stock from $149.00 to $123.00. Citigroup currently has a buy rating on the stock. United Parcel Service traded as low as $90.55 and last traded at $91.58. Approximately 1,327,201 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 4,744,184 shares. The stock had previously closed at $91.92.

Several other research firms have also issued reports on UPS. The Goldman Sachs Group dropped their price objective 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. Robert W. Baird downgraded United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $130.00 in a report on Friday, January 31st. Truist Financial began coverage on United Parcel Service in a research note on Thursday, March 13th. They set a “buy” rating and a $140.00 price objective on the stock. Stifel Nicolaus lowered their target price on United Parcel Service from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Evercore ISI boosted their price target on United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.32.

Institutional Trading of United Parcel Service

A number of institutional investors and hedge funds have recently modified their holdings of UPS. Arete Wealth Advisors LLC raised its position in shares of United Parcel Service by 69.0% during the 3rd quarter. Arete Wealth Advisors LLC now owns 19,068 shares of the transportation company’s stock worth $2,591,000 after purchasing an additional 7,786 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of United Parcel Service by 4.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 443,453 shares of the transportation company’s stock worth $60,460,000 after acquiring an additional 20,527 shares during the last quarter. LRI Investments LLC increased its holdings in shares of United Parcel Service by 18.9% in the 3rd quarter. LRI Investments LLC now owns 825 shares of the transportation company’s stock worth $109,000 after acquiring an additional 131 shares during the period. Executive Wealth Management LLC bought a new stake in United Parcel Service in the 3rd quarter valued at about $7,689,000. Finally, Resources Management Corp CT ADV boosted its stake in United Parcel Service by 2.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 50,778 shares of the transportation company’s stock valued at $6,923,000 after purchasing an additional 999 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Trading Down 0.4 %

The firm’s 50-day simple moving average is $113.30 and its 200 day simple moving average is $124.82. The stock has a market cap of $78.22 billion, a P/E ratio of 13.55, a PEG ratio of 1.55 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period in the previous year, the company posted $2.47 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio is currently 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.