ICICI Prudential Asset Management Co Ltd Purchases 21,000 Shares of United Parcel Service, Inc. $UPS

ICICI Prudential Asset Management Co Ltd lifted its position in United Parcel Service, Inc. (NYSE:UPS) by 28.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,600 shares of the transportation company’s stock after buying an additional 21,000 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in United Parcel Service were worth $7,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in United Parcel Service during the 2nd quarter worth $851,842,000. Laurel Wealth Advisors LLC lifted its position in shares of United Parcel Service by 11,517.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,503,413 shares of the transportation company’s stock worth $252,695,000 after purchasing an additional 2,481,864 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in United Parcel Service by 78.7% during the 2nd 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. Invesco Ltd. boosted its stake in United Parcel Service by 45.4% during the 2nd 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 period. Finally, AQR Capital Management LLC grew its holdings in United Parcel Service by 94.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,300,081 shares of the transportation company’s stock valued at $231,388,000 after buying an additional 1,119,372 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPS has been the subject of a number of research analyst reports. Oppenheimer upped their price target on United Parcel Service from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Weiss Ratings raised shares of United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Jefferies Financial Group increased their price target on shares of United Parcel Service from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Stephens raised their price target on shares of United Parcel Service from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of United Parcel Service from $88.00 to $106.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.67.

Insider Activity

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 25,014 shares of United Parcel Service stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $106.15, for a total transaction of $2,655,236.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

United Parcel Service Stock Performance

NYSE:UPS opened at $115.58 on Friday. The firm has a market capitalization of $98.06 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The company has a quick ratio of 1.30, a current ratio of 1.22 and a debt-to-equity ratio of 1.45. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $123.70. The firm has a 50-day moving average price of $107.50 and a 200 day moving average price of $95.51.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, January 27th. The transportation company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.18. United Parcel Service had a return on equity of 38.30% and a net margin of 6.28%.The company had revenue of $24.48 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the company posted $2.75 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, February 17th. United Parcel Service’s dividend payout ratio is currently 100.00%.

United Parcel Service Company Profile

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.