Sound Shore Management Inc. CT Invests $71.63 Million in United Parcel Service, Inc. $UPS

Sound Shore Management Inc. CT bought a new position in United Parcel Service, Inc. (NYSE:UPS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 728,066 shares of the transportation company’s stock, valued at approximately $71,627,000. United Parcel Service comprises about 2.4% of Sound Shore Management Inc. CT’s portfolio, making the stock its 26th biggest position. Sound Shore Management Inc. CT owned approximately 0.09% of United Parcel Service at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Potomac Fund Management Inc. ADV boosted its position in shares of United Parcel Service by 0.8% in the 4th quarter. Potomac Fund Management Inc. ADV now owns 11,324 shares of the transportation company’s stock valued at $1,123,000 after purchasing an additional 90 shares during the period. Westbourne Investments Inc. increased its stake in United Parcel Service by 1.2% in the 4th quarter. Westbourne Investments Inc. now owns 7,876 shares of the transportation company’s stock worth $781,000 after purchasing an additional 91 shares in the last quarter. Ipsen Advisor Group LLC raised its holdings in United Parcel Service by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,670 shares of the transportation company’s stock worth $562,000 after buying an additional 95 shares during the period. Webster Bank N. A. raised its holdings in United Parcel Service by 16.7% during the 4th quarter. Webster Bank N. A. now owns 698 shares of the transportation company’s stock worth $69,000 after buying an additional 100 shares during the period. Finally, Peoples Financial Services CORP. lifted its stake in United Parcel Service by 2.5% during the fourth quarter. Peoples Financial Services CORP. now owns 4,030 shares of the transportation company’s stock valued at $400,000 after buying an additional 100 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Stock Up 0.0%

Shares of United Parcel Service stock opened at $117.77 on Monday. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $122.41. The company has a market cap of $100.10 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.87 and a beta of 1.05. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $106.68 and a 200 day moving average price of $106.14.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.05. The company had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $20.99 billion. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. As a group, analysts expect that United Parcel Service, Inc. will post 7.1 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a yield of 5.6%. United Parcel Service’s payout ratio is presently 106.15%.

Analyst Upgrades and Downgrades

Several research analysts have commented on UPS shares. UBS Group decreased their target price on shares of United Parcel Service from $125.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Citizens Jmp started coverage on shares of United Parcel Service in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Susquehanna upped their price target on shares of United Parcel Service from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Citigroup raised their price objective on shares of United Parcel Service from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.10.

About United Parcel Service

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.