United Parcel Service (NYSE:UPS) Trading 1.4% Higher After Dividend Announcement

Shares of United Parcel Service, Inc. (NYSE:UPS) shot up 1.4% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $95.71 and last traded at $95.24. 1,201,517 shares traded hands during trading, a decline of 76% from the average session volume of 4,970,426 shares. The stock had previously closed at $93.96.

The newly announced dividend which will be paid on Thursday, June 5th. Stockholders of record on Monday, May 19th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Monday, May 19th. United Parcel Service’s dividend payout ratio is presently 95.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a report on Wednesday, January 22nd. Bank of America dropped their target price on United Parcel Service from $133.00 to $129.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Galvan Research decreased their price target on United Parcel Service from $147.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Susquehanna dropped their price objective on United Parcel Service from $120.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, Hsbc Global Res downgraded United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Hold” and a consensus price target of $120.87.

United Parcel Service Trading Down 1.1 %

The business has a 50 day moving average of $104.28 and a 200-day moving average of $118.93. The stock has a market cap of $81.93 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same quarter last year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

Hedge Funds Weigh In On United Parcel Service

A number of institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in United Parcel Service in the 4th quarter valued at about $1,075,393,000. Goldman Sachs Group Inc. lifted its holdings in shares of United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock valued at $991,132,000 after acquiring an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after buying an additional 3,961,255 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $393,680,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in United Parcel Service by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock worth $2,754,751,000 after buying an additional 1,780,807 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

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.