United Parcel Service (NYSE:UPS) Stock Price Down 1.7% – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS)’s share price dropped 1.7% during trading on Monday . The stock traded as low as $132.48 and last traded at $133.56. Approximately 908,765 shares were traded during trading, a decline of 78% from the average daily volume of 4,170,850 shares. The stock had previously closed at $135.93.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup started coverage on United Parcel Service in a research report on Wednesday, October 9th. They set a “buy” rating and a $162.00 price target for the company. Stephens lowered their price target on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Evercore ISI raised their price target on shares of United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen started coverage on United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.05.

United Parcel Service Stock Performance

The stock has a 50-day moving average of $130.44 and a 200 day moving average of $136.19. The stock has a market cap of $112.56 billion, a PE ratio of 21.45, a P/E/G ratio of 2.00 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The company had revenue of $21.82 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. Equities analysts predict that United Parcel Service, Inc. will post 7.44 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.96%. United Parcel Service’s dividend payout ratio (DPR) is 106.36%.

Insider Activity

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $128.61 per share, for a total transaction of $643,050.00. Following the completion of the transaction, the director now owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The trade was a 3,100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Several large investors have recently made changes to their positions in UPS. Blackston Financial Advisory Group LLC lifted its stake in United Parcel Service by 1.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock worth $694,000 after purchasing an additional 69 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of United Parcel Service by 2.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 3,490 shares of the transportation company’s stock valued at $519,000 after buying an additional 73 shares during the period. Cornerstone Wealth Management LLC lifted its stake in United Parcel Service by 0.9% during the 1st quarter. Cornerstone Wealth Management LLC now owns 8,538 shares of the transportation company’s stock worth $1,269,000 after acquiring an additional 73 shares in the last quarter. MV Capital Management Inc. boosted its holdings in United Parcel Service by 8.6% during the 1st quarter. MV Capital Management Inc. now owns 969 shares of the transportation company’s stock valued at $144,000 after acquiring an additional 77 shares during the period. Finally, Gleason Group Inc. grew its position in United Parcel Service by 1.2% in the 2nd quarter. Gleason Group Inc. now owns 6,496 shares of the transportation company’s stock valued at $889,000 after acquiring an additional 77 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

About United Parcel Service

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.