United Parcel Service Inc. (UPS) Sees Large Increase in Short Interest
United Parcel Service Inc. (NYSE:UPS) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 15,849,686 shares, a growth of 35.5% from the October 31st total of 11,696,547 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 3,744,284 shares, the days-to-cover ratio is presently 4.2 days.
Hedge funds have recently made changes to their positions in the company. Logan Capital Management Inc. bought a new stake in shares of United Parcel Service during the first quarter valued at about $424,000. Iowa State Bank increased its stake in shares of United Parcel Service by 0.4% in the second quarter. Iowa State Bank now owns 80,637 shares of the company’s stock valued at $8,686,000 after buying an additional 327 shares during the period. Fulton Bank N.A. increased its stake in shares of United Parcel Service by 10.1% in the second quarter. Fulton Bank N.A. now owns 12,424 shares of the company’s stock valued at $1,338,000 after buying an additional 1,136 shares during the period. Kistler Tiffany Companies LLC increased its stake in shares of United Parcel Service by 3.9% in the second quarter. Kistler Tiffany Companies LLC now owns 2,292 shares of the company’s stock valued at $247,000 after buying an additional 87 shares during the period. Finally, Boltwood Capital Management increased its stake in shares of United Parcel Service by 2.5% in the second quarter. Boltwood Capital Management now owns 8,780 shares of the company’s stock valued at $946,000 after buying an additional 215 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.
UPS has been the subject of several analyst reports. Barclays PLC upped their price target on United Parcel Service from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, September 12th. Deutsche Bank AG initiated coverage on United Parcel Service in a research note on Wednesday, November 2nd. They set a “hold” rating and a $117.00 price target for the company. Sanford C. Bernstein restated an “outperform” rating and set a $116.00 price target on shares of United Parcel Service in a research note on Friday, November 25th. Vetr cut United Parcel Service from a “buy” rating to a “hold” rating and set a $114.83 price target for the company. in a research note on Tuesday, November 8th. Finally, William Blair restated an “outperform” rating on shares of United Parcel Service in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $113.40.
Shares of United Parcel Service (NYSE:UPS) opened at 115.92 on Thursday. The firm has a 50-day moving average price of $110.61 and a 200 day moving average price of $108.26. United Parcel Service has a 12-month low of $87.30 and a 12-month high of $116.96. The firm has a market cap of $101.16 billion, a price-to-earnings ratio of 20.66 and a beta of 0.89.
United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.44. The business had revenue of $14.93 billion for the quarter, compared to the consensus estimate of $14.72 billion. United Parcel Service had a return on equity of 195.68% and a net margin of 8.33%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. On average, equities research analysts anticipate that United Parcel Service will post $5.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Monday, November 14th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Wednesday, November 9th. United Parcel Service’s dividend payout ratio (DPR) is 55.52%.
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. It delivers packages each business day in over 220 countries and territories. The Company operates in three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.
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