Sound Shore Management Inc. CT Makes New Investment in United Parcel Service, Inc. $UPS

Sound Shore Management Inc. CT purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 728,066 shares of the transportation company’s stock, valued at approximately $71,627,000. United Parcel Service makes up 2.4% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 26th largest position.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of United Parcel Service by 63.8% during 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 during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of United Parcel Service in the 2nd quarter valued at $277,000. SVB Wealth LLC bought a new stake in United Parcel Service in the second quarter worth $848,000. Treasurer of the State of North Carolina boosted its holdings in United Parcel Service by 2.7% in the second quarter. Treasurer of the State of North Carolina now owns 342,866 shares of the transportation company’s stock worth $34,609,000 after purchasing an additional 9,124 shares in the last quarter. Finally, Ieq Capital LLC increased its position in United Parcel Service by 154.5% during the second quarter. Ieq Capital LLC now owns 104,819 shares of the transportation company’s stock worth $10,580,000 after buying an additional 63,629 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPS has been the topic of several recent research reports. UBS Group cut their target price on United Parcel Service from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Citigroup increased their price objective on United Parcel Service from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Wall Street Zen raised United Parcel Service from a “hold” rating to a “buy” rating in a research note on Saturday. Stephens raised United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, United Parcel Service has an average rating of “Hold” and a consensus target price of $111.10.

United Parcel Service Trading Up 0.0%

Shares of NYSE:UPS opened at $117.77 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50-day moving average is $106.68 and its 200-day moving average is $106.14. The company has a market cap of $100.10 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.87 and a beta of 1.05. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $122.41.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.99 billion. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 7.1 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were issued a dividend of $1.64 per share. The ex-dividend date was Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.6%. United Parcel Service’s payout ratio is 106.15%.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.