United Parcel Service (NYSE:UPS) Shares Down 0.9% After Analyst Downgrade

United Parcel Service, Inc. (NYSE:UPS)’s stock price traded down 0.9% during trading on Friday after Truist Financial lowered their price target on the stock from $140.00 to $130.00. Truist Financial currently has a buy rating on the stock. United Parcel Service traded as low as $97.13 and last traded at $98.05. 1,005,743 shares were traded during trading, a decline of 79% from the average session volume of 4,814,177 shares. The stock had previously closed at $98.92.

A number of other analysts have also weighed in on UPS. Evercore ISI increased their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on United Parcel Service in a report on Friday, March 7th. They issued a “hold” rating and a $119.00 price objective for the company. Robert W. Baird cut United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $130.00 in a research note on Friday, January 31st. Galvan Research decreased their target price 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. Finally, Wolfe Research cut their price target on shares of United Parcel Service from $133.00 to $113.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.41.

Institutional Trading of United Parcel Service

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of United Parcel Service by 4.3% during the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after buying an additional 33,989 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in United Parcel Service during the 4th quarter valued at $461,000. Synovus Financial Corp increased its holdings in shares of United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after purchasing an additional 6,941 shares in the last quarter. HF Advisory Group LLC purchased a new position in shares of United Parcel Service in the fourth quarter worth $1,305,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of United Parcel Service by 27.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after purchasing an additional 28,108 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

The firm has a fifty day moving average of $108.58 and a 200 day moving average of $121.48. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $83.59 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.55 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $2.47 earnings per share. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were paid a $1.64 dividend. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is 97.04%.

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.