United Parcel Service (NYSE:UPS) Shares Down 1.9% – Here’s Why

Shares of United Parcel Service, Inc. (NYSE:UPS) dropped 1.9% during mid-day trading on Monday . The company traded as low as $93.23 and last traded at $95.81. Approximately 2,423,112 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 4,712,371 shares. The stock had previously closed at $97.71.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on UPS shares. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Robert W. Baird cut shares of United Parcel Service from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $160.00 to $130.00 in a research report on Friday, January 31st. Morgan Stanley decreased their target price on shares of United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Truist Financial started coverage on shares of United Parcel Service in a report on Thursday, March 13th. They set a “buy” rating and a $140.00 price target for the company. Finally, Stifel Nicolaus reduced their price target on shares of United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.18.

United Parcel Service Stock Down 2.2 %

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The company has a market cap of $81.63 billion, a PE ratio of 14.14, a P/E/G ratio of 1.55 and a beta of 1.10. The business’s 50 day moving average is $115.01 and its 200-day moving average is $125.31.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share (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 quarter in the previous year, the company posted $2.47 earnings per share. As a group, analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a yield of 6.86%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio (DPR) is presently 97.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of United Parcel Service during the fourth quarter worth about $1,075,393,000. Raymond James Financial Inc. acquired a new position in United Parcel Service during the fourth quarter worth approximately $393,680,000. Franklin Resources Inc. lifted its stake in United Parcel Service by 15.6% in 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 last quarter. Van ECK Associates Corp boosted its holdings 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 acquiring an additional 1,378,136 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of United Parcel Service by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock worth $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.

United Parcel Service Company Profile

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.