Drive Wealth Management LLC Lowers Holdings in United Parcel Service, Inc. (NYSE:UPS)

Drive Wealth Management LLC reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 20.8% in the 3rd quarter, Holdings Channel reports. The fund owned 2,360 shares of the transportation company’s stock after selling 618 shares during the period. Drive Wealth Management LLC’s holdings in United Parcel Service were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Blackston Financial Advisory Group LLC increased its holdings in shares of United Parcel Service by 1.4% during the 2nd quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock valued at $694,000 after purchasing an additional 69 shares in the last quarter. Cigna Investments Inc. New increased its holdings in United Parcel Service by 1.0% in the third quarter. Cigna Investments Inc. New now owns 7,508 shares of the transportation company’s stock valued at $1,024,000 after buying an additional 75 shares in the last quarter. Gleason Group Inc. raised its position in shares of United Parcel Service by 1.2% in the second quarter. Gleason Group Inc. now owns 6,496 shares of the transportation company’s stock worth $889,000 after acquiring an additional 77 shares during the period. Nicholas Hoffman & Company LLC. boosted its stake in shares of United Parcel Service by 0.5% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 15,837 shares of the transportation company’s stock worth $2,167,000 after acquiring an additional 79 shares in the last quarter. Finally, Horan Capital Advisors LLC. grew its position in shares of United Parcel Service by 0.4% during the 2nd quarter. Horan Capital Advisors LLC. now owns 23,029 shares of the transportation company’s stock valued at $3,152,000 after acquiring an additional 83 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPS has been the subject of a number of analyst reports. UBS Group increased their price target on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America upped their target price on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Argus raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI upped their price objective on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Baird R W raised shares of United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.52.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $135.13 on Tuesday. The stock has a market cap of $115.32 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.20 and a beta of 0.99. The stock has a 50 day moving average of $132.63 and a two-hundred day moving average of $134.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

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.