United Parcel Service (NYSE:UPS) Stock Jumps 2.4% – Here’s What Happened

Shares of United Parcel Service, Inc. (NYSE:UPS) traded up 2.4% on Monday. The company traded as high as $111.83 and last traded at $110.8570. Approximately 4,393,184 shares changed hands during trading, a decline of 22% from the average daily volume of 5,629,205 shares. The stock had previously closed at $108.30.

Analysts Set New Price Targets

Several research firms have issued reports on UPS. Citigroup boosted their price objective on shares of United Parcel Service from $122.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. UBS Group raised their target price on shares of United Parcel Service from $124.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Wells Fargo & Company lifted their target price on shares of United Parcel Service from $110.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 28th. The Goldman Sachs Group upped their price target on shares of United Parcel Service from $128.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Truist Financial upped their price target on shares of United Parcel Service from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $118.45.

United Parcel Service Stock Up 2.4%

The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day simple moving average of $99.81 and a 200-day simple moving average of $104.71. The company has a market capitalization of $94.31 billion, a PE ratio of 21.32, a P/E/G ratio of 1.95 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last released its earnings results on Wednesday, November 4th. The transportation company reported $1.69 EPS for the quarter. The company had revenue of $22.85 billion during the quarter. United Parcel Service had a return on equity of 37.78% and a net margin of 4.84%. Equities research analysts anticipate that United Parcel Service, Inc. will post 7.28 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Monday, November 16th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Monday, November 16th. United Parcel Service’s payout ratio is 126.15%.

Insider Transactions at United Parcel Service

In related news, insider Matthew Guffey sold 8,318 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $105.39, for a total value of $876,634.02. Following the sale, the insider directly owned 271 shares of the company’s stock, valued at $28,560.69. This represents a 96.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UPS. Bauman Advisory Group LLC lifted its position in shares of United Parcel Service by 1.1% during the third quarter. Bauman Advisory Group LLC now owns 8,865 shares of the transportation company’s stock worth $828,000 after purchasing an additional 96 shares during the last quarter. Legacy Wealth Managment LLC ID increased its holdings in United Parcel Service by 48.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 309 shares of the transportation company’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Wealth Alliance LLC increased its holdings in United Parcel Service by 3.5% in the first quarter. Wealth Alliance LLC now owns 3,013 shares of the transportation company’s stock valued at $296,000 after buying an additional 102 shares during the last quarter. Midland Wealth Advisors LLC increased its holdings in United Parcel Service by 3.8% in the third quarter. Midland Wealth Advisors LLC now owns 2,996 shares of the transportation company’s stock valued at $280,000 after buying an additional 111 shares during the last quarter. Finally, Syon Capital LLC increased its holdings in United Parcel Service by 1.6% in the second quarter. Syon Capital LLC now owns 7,252 shares of the transportation company’s stock valued at $780,000 after buying an additional 112 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Company Profile

United Parcel Service, Inc (UPS) is a global package delivery and logistics company. Its services include domestic and international shipping, air and ground delivery, freight forwarding, customs brokerage, and supply chain management.

UPS also provides solutions for businesses, including warehousing, inventory management, healthcare logistics, and returns processing. Its network serves customers in more than 200 countries and territories.

Founded in Seattle in 1907 as the American Messenger Company, UPS is headquartered in Atlanta, Georgia.