Granite Investment Partners LLC increased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,025 shares of the transportation company’s stock after buying an additional 535 shares during the quarter. Granite Investment Partners LLC’s holdings in United Parcel Service were worth $2,029,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management raised its position in United Parcel Service by 9.0% during the second quarter. Brookstone Capital Management now owns 55,120 shares of the transportation company’s stock worth $6,096,000 after acquiring an additional 4,541 shares during the period. Wesbanco Bank Inc. raised its position in United Parcel Service by 9.4% during the second quarter. Wesbanco Bank Inc. now owns 61,892 shares of the transportation company’s stock worth $6,845,000 after acquiring an additional 5,325 shares during the period. Sawyer & Company Inc acquired a new position in United Parcel Service during the fourth quarter worth $2,779,000. Crossmark Global Holdings Inc. acquired a new position in United Parcel Service during the third quarter worth $8,978,000. Finally, BP PLC raised its position in United Parcel Service by 47.3% during the third quarter. BP PLC now owns 81,000 shares of the transportation company’s stock worth $9,726,000 after acquiring an additional 26,000 shares during the period. 53.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on UPS shares. Loop Capital upped their price objective on shares of United Parcel Service from $120.00 to $128.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Deutsche Bank upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $135.00 in a research report on Monday, December 4th. Morgan Stanley upped their price objective on shares of United Parcel Service from $79.00 to $90.00 and gave the stock an “underweight” rating in a research report on Friday, February 2nd. Knight Equity restated a “buy” rating and set a $135.00 price objective (down from $145.00) on shares of United Parcel Service in a research report on Monday, January 8th. Finally, Oppenheimer restated a “buy” rating and set a $123.00 price objective on shares of United Parcel Service in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. United Parcel Service has an average rating of “Hold” and a consensus target price of $126.47.
United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, February 1st. The transportation company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.01. The business had revenue of $18.83 billion during the quarter, compared to analysts’ expectations of $18.20 billion. United Parcel Service had a net margin of 7.45% and a return on equity of 477.77%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. sell-side analysts anticipate that United Parcel Service, Inc. will post 7.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be given a dividend of $0.91 per share. This is a boost from United Parcel Service’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, February 16th. United Parcel Service’s dividend payout ratio (DPR) is presently 59.18%.
About United Parcel Service
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
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