United Parcel Service (NYSE:UPS) Stock Price Down 3.2% – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS)’s share price traded down 3.2% during mid-day trading on Thursday . The stock traded as low as $95.96 and last traded at $96.46. 969,330 shares were traded during trading, a decline of 80% from the average session volume of 4,767,030 shares. The stock had previously closed at $99.66.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of United Parcel Service from $166.00 to $147.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of United Parcel Service from $128.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. UBS Group decreased their price target on shares of United Parcel Service from $141.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Citigroup dropped their price objective on United Parcel Service from $149.00 to $123.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Loop Capital decreased their target price on United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, United Parcel Service currently has an average rating of “Hold” and a consensus target price of $131.32.

United Parcel Service Stock Up 0.4 %

The company has a market cap of $82.81 billion, a PE ratio of 14.34, a P/E/G ratio of 1.55 and a beta of 1.10. The stock has a 50-day moving average of $112.11 and a 200-day moving average of $123.97. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.47 earnings per share. Sell-side analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.64 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a dividend yield of 6.77%. United Parcel Service’s dividend payout ratio is 97.04%.

Institutional Investors Weigh In On United Parcel Service

A number of hedge funds have recently made changes to their positions in UPS. Diamant Asset Management Inc. lifted its stake in United Parcel Service by 2.8% in the third quarter. Diamant Asset Management Inc. now owns 4,060 shares of the transportation company’s stock worth $554,000 after purchasing an additional 110 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its holdings in shares of United Parcel Service by 12.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 17,236 shares of the transportation company’s stock worth $2,337,000 after buying an additional 1,880 shares during the period. Eaton Financial Holdings Company LLC bought a new stake in shares of United Parcel Service in the 3rd quarter valued at about $1,021,000. Pine Valley Investments Ltd Liability Co boosted its holdings in United Parcel Service by 25.9% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 26,457 shares of the transportation company’s stock valued at $3,607,000 after acquiring an additional 5,444 shares during the period. Finally, World Investment Advisors LLC grew its position in United Parcel Service by 79.6% during the 3rd quarter. World Investment Advisors LLC now owns 17,675 shares of the transportation company’s stock worth $2,410,000 after acquiring an additional 7,836 shares during the last quarter. 60.26% of the stock is currently owned by 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.