Pinnacle Associates Ltd. Acquires 13,473 Shares of United Parcel Service, Inc. (NYSE:UPS)

Pinnacle Associates Ltd. lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 14.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 104,731 shares of the transportation company’s stock after purchasing an additional 13,473 shares during the period. Pinnacle Associates Ltd.’s holdings in United Parcel Service were worth $14,279,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in UPS. TruNorth Capital Management LLC purchased a new position in United Parcel Service in the 2nd quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of United Parcel Service in the second quarter valued at about $32,000. Centerpoint Advisors LLC raised its position in United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after buying an additional 155 shares during the period. Finally, PSI Advisors LLC grew its position in shares of United Parcel Service by 408.2% in the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Price Performance

Shares of United Parcel Service stock traded down $0.48 during trading hours on Wednesday, reaching $133.83. The company’s stock had a trading volume of 802,156 shares, compared to its average volume of 4,198,718. The stock has a market cap of $114.64 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.03 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.25. The firm has a 50 day moving average price of $131.12 and a 200-day moving average price of $135.73.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that United Parcel Service, Inc. will post 7.41 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.87%. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on UPS shares. Bank of America lifted their target price on shares of United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. UBS Group upped their price target on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price target on United Parcel Service from $151.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group lowered their price objective on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service currently has a consensus rating of “Moderate Buy” and an average target price of $151.71.

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.