United Parcel Service, Inc. $UPS Shares Acquired by State Street Corp

State Street Corp lifted its position in United Parcel Service, Inc. (NYSE:UPS) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,774,530 shares of the transportation company’s stock after purchasing an additional 444,384 shares during the quarter. State Street Corp owned about 3.63% of United Parcel Service worth $3,106,381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in United Parcel Service during the 2nd quarter worth approximately $851,842,000. Laurel Wealth Advisors LLC increased its stake in shares of United Parcel Service by 11,517.3% in the second quarter. Laurel Wealth Advisors LLC now owns 2,503,413 shares of the transportation company’s stock worth $252,695,000 after acquiring an additional 2,481,864 shares during the period. Nuveen LLC purchased a new position in shares of United Parcel Service during the first quarter worth $201,358,000. Arrowstreet Capital Limited Partnership lifted its position in United Parcel Service by 78.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,086,862 shares of the transportation company’s stock valued at $412,528,000 after purchasing an additional 1,799,882 shares during the period. Finally, Invesco Ltd. boosted its holdings in United Parcel Service by 45.4% in the second quarter. Invesco Ltd. now owns 5,730,804 shares of the transportation company’s stock valued at $578,467,000 after purchasing an additional 1,789,467 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

UPS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. Susquehanna boosted their price target on United Parcel Service from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. BMO Capital Markets restated a “market perform” rating and issued a $96.00 price objective (down previously from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. Truist Financial lifted their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Wells Fargo & Company boosted their target price on shares of United Parcel Service from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $110.00.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $96.99 on Wednesday. The stock has a market capitalization of $82.28 billion, a P/E ratio of 14.99, a PEG ratio of 2.28 and a beta of 1.11. The business has a 50 day simple moving average of $91.51 and a two-hundred day simple moving average of $92.57. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 1.30.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The firm had revenue of $21.42 billion during the quarter, compared to analysts’ expectations of $20.94 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 17th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Monday, November 17th. United Parcel Service’s dividend payout ratio is 101.39%.

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.