United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Summit X LLC

Summit X LLC cut its stake in United Parcel Service, Inc. (NYSE:UPS) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,168 shares of the transportation company’s stock after selling 1,428 shares during the period. Summit X LLC’s holdings in United Parcel Service were worth $1,283,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its position in shares of United Parcel Service by 397.7% in the third quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock worth $29,000 after acquiring an additional 171 shares during the last quarter. IFS Advisors LLC boosted its position in shares of United Parcel Service by 232.3% in the fourth quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after acquiring an additional 151 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of United Parcel Service in the third quarter worth approximately $36,000. Whipplewood Advisors LLC acquired a new stake in shares of United Parcel Service in the fourth quarter worth approximately $34,000. Finally, Sugar Maple Asset Management LLC acquired a new position in United Parcel Service during the fourth quarter valued at approximately $38,000. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $116.35 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $158.95. The firm has a 50-day simple moving average of $121.45 and a 200 day simple moving average of $127.64. The company has a market cap of $99.38 billion, a PE ratio of 17.21, a P/E/G ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $2.47 earnings per share. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 5.64%. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s payout ratio is presently 97.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UPS shares. Baird R W cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 31st. Robert W. Baird cut shares of United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $130.00 in a research report on Friday, January 31st. StockNews.com raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Bank of America reduced their price target on shares of United Parcel Service from $150.00 to $133.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group reduced their price target on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

United Parcel Service 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.