Ignite Planners LLC Decreases Stake in United Parcel Service, Inc. (NYSE:UPS)

Ignite Planners LLC reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 17.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,570 shares of the transportation company’s stock after selling 743 shares during the quarter. Ignite Planners LLC’s holdings in United Parcel Service were worth $527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of UPS. International Assets Investment Management LLC raised its position in shares of United Parcel Service by 15,631.2% in the 4th quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock valued at $2,280,190,000 after purchasing an additional 14,410,073 shares during the last quarter. Wellington Management Group LLP raised its position in United Parcel Service by 87.6% during the 4th quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock worth $2,854,180,000 after buying an additional 8,475,698 shares during the last quarter. Norges Bank purchased a new position in United Parcel Service during the 4th quarter worth approximately $1,128,322,000. First Trust Advisors LP raised its position in United Parcel Service by 208.1% during the 4th quarter. First Trust Advisors LP now owns 1,717,391 shares of the transportation company’s stock worth $270,025,000 after buying an additional 1,160,005 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in United Parcel Service by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after buying an additional 980,317 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

United Parcel Service stock opened at $138.61 on Tuesday. The company’s fifty day moving average price is $142.22 and its 200 day moving average price is $149.06. United Parcel Service, Inc. has a 1 year low of $132.90 and a 1 year high of $192.98. The stock has a market capitalization of $118.59 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.73 and a beta of 1.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.04 and a current ratio of 1.10.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 8.22 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 13th were issued a $1.63 dividend. The ex-dividend date was Friday, May 10th. This represents a $6.52 dividend on an annualized basis and a yield of 4.70%. United Parcel Service’s payout ratio is currently 94.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Oppenheimer raised their price target on shares of United Parcel Service from $153.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. BMO Capital Markets raised their price target on shares of United Parcel Service from $165.00 to $169.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 24th. Wells Fargo & Company initiated coverage on shares of United Parcel Service in a research report on Friday, June 7th. They set an “overweight” rating and a $156.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus dropped their price objective on shares of United Parcel Service from $178.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $164.55.

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.