Raymond James Financial Services Advisors Inc. increased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 23.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 270,114 shares of the transportation company’s stock after buying an additional 50,636 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in United Parcel Service were worth $32,185,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in UPS. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in United Parcel Service during the third quarter worth $120,000. Resources Investment Advisors Inc. boosted its position in United Parcel Service by 51.2% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,235 shares of the transportation company’s stock worth $147,000 after purchasing an additional 418 shares in the last quarter. Choate Investment Advisors purchased a new stake in United Parcel Service during the second quarter worth $203,000. First Midwest Bank Trust Division purchased a new stake in United Parcel Service during the third quarter worth $203,000. Finally, Brightworth purchased a new stake in United Parcel Service during the third quarter worth $203,000. 53.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on UPS shares. Goldman Sachs Group started coverage on United Parcel Service in a research report on Monday, November 13th. They set a “buy” rating and a $148.00 target price on the stock. Loop Capital upgraded United Parcel Service from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.61 to $128.00 in a research report on Monday. BMO Capital Markets boosted their target price on United Parcel Service to $130.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Vetr upgraded United Parcel Service from a “sell” rating to a “hold” rating and set a $116.85 target price on the stock in a research report on Tuesday, December 26th. Finally, Deutsche Bank upgraded United Parcel Service from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $135.00 in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $123.83.
United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Thursday, February 1st. The transportation company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The business had revenue of $18.83 billion for the quarter, compared to the consensus estimate of $18.20 billion. United Parcel Service had a return on equity of 477.77% and a net margin of 7.45%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 earnings per share. sell-side analysts anticipate that United Parcel Service, Inc. will post 7.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be paid a $0.91 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, February 16th. United Parcel Service’s dividend payout ratio is presently 68.55%.
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About United Parcel Service
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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