United Parcel Service, Inc. (NYSE:UPS) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 0.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,214 shares of the transportation company’s stock after acquiring an additional 200 shares during the period. State of Michigan Retirement System’s holdings in United Parcel Service were worth $29,461,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UPS. Tennessee Valley Asset Management Partners acquired a new position in United Parcel Service in the fourth quarter valued at approximately $26,000. Life Planning Partners Inc acquired a new position in shares of United Parcel Service in the 4th quarter valued at $28,000. Northwest Financial Advisors purchased a new position in shares of United Parcel Service in the 4th quarter valued at $28,000. Pineridge Advisors LLC acquired a new stake in United Parcel Service during the 4th quarter worth $31,000. Finally, Bourgeon Capital Management LLC purchased a new stake in United Parcel Service in the fourth quarter valued at $31,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

Shares of UPS stock traded down $1.04 during midday trading on Tuesday, reaching $134.91. 3,249,078 shares of the company traded hands, compared to its average volume of 4,051,471. The firm has a market cap of $115.42 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.10 and a quick ratio of 1.04. The firm’s 50 day simple moving average is $141.52 and its two-hundred day simple moving average is $148.31. United Parcel Service, Inc. has a 1-year low of $132.90 and a 1-year high of $192.98.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the previous year, the business earned $2.20 earnings per share. United Parcel Service’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that United Parcel Service, Inc. will post 8.22 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 13th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, May 10th. United Parcel Service’s dividend payout ratio (DPR) is presently 94.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UPS. Oppenheimer lifted their target price on United Parcel Service from $153.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley boosted their price objective on United Parcel Service from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parcel Service from $183.00 to $179.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. Susquehanna upped their price target on shares of United Parcel Service from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI lowered their price objective on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $164.55.

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.