First Merchants Corp boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 126.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,686 shares of the transportation company’s stock after purchasing an additional 8,765 shares during the quarter. First Merchants Corp’s holdings in United Parcel Service were worth $1,884,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in UPS. First PREMIER Bank raised its position in shares of United Parcel Service by 5.0% during the second quarter. First PREMIER Bank now owns 1,047 shares of the transportation company’s stock worth $116,000 after purchasing an additional 50 shares during the period. Parkside Financial Bank & Trust raised its position in shares of United Parcel Service by 14.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,240 shares of the transportation company’s stock worth $137,000 after purchasing an additional 153 shares during the period. Winslow Evans & Crocker Inc. grew its holdings in shares of United Parcel Service by 261.3% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,243 shares of the transportation company’s stock valued at $137,000 after buying an additional 899 shares in the last quarter. Security National Trust Co. grew its holdings in shares of United Parcel Service by 3.9% during the second quarter. Security National Trust Co. now owns 1,292 shares of the transportation company’s stock valued at $143,000 after buying an additional 48 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in shares of United Parcel Service by 0.3% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,482 shares of the transportation company’s stock valued at $163,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 53.49% of the company’s stock.

A number of research analysts have recently weighed in on UPS shares. Zacks Investment Research downgraded United Parcel Service from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Goldman Sachs Group started coverage on United Parcel Service in a report on Monday, November 13th. They set a “buy” rating and a $148.00 price target on the stock. Cowen reiterated a “hold” rating on shares of United Parcel Service in a report on Tuesday, September 26th. Robert W. Baird reiterated a “hold” rating and set a $118.00 price target on shares of United Parcel Service in a report on Friday, August 25th. Finally, Deutsche Bank upgraded United Parcel Service from a “hold” rating to a “buy” rating and boosted their target price for the company from $125.00 to $135.00 in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $121.45.

United Parcel Service, Inc. (NYSE UPS) opened at $119.00 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 9.33. The company has a market capitalization of $102,550.00, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. United Parcel Service, Inc. has a twelve month low of $102.12 and a twelve month high of $125.16.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.45 EPS for the quarter, meeting the consensus estimate of $1.45. The firm had revenue of $15.98 billion during the quarter, compared to analysts’ expectations of $15.62 billion. United Parcel Service had a return on equity of 551.29% and a net margin of 5.58%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. equities research analysts expect that United Parcel Service, Inc. will post 6.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $3.32 annualized dividend and a dividend yield of 2.79%. United Parcel Service’s dividend payout ratio is currently 81.57%.

TRADEMARK VIOLATION WARNING: This article was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/12/20/first-merchants-corp-has-1-88-million-position-in-united-parcel-service-inc-ups.html.

United Parcel Service Profile

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.

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS).

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

Receive News & Ratings for United Parcel Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service and related companies with MarketBeat.com's FREE daily email newsletter.