Sound Income Strategies LLC Increases Position in United Parcel Service, Inc. $UPS

Sound Income Strategies LLC increased its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 167,562 shares of the transportation company’s stock after acquiring an additional 12,704 shares during the quarter. Sound Income Strategies LLC’s holdings in United Parcel Service were worth $14,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UPS. Evelyn Partners Investment Management Europe Ltd increased its holdings in shares of United Parcel Service by 110.1% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 131 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in United Parcel Service during the 2nd quarter worth $26,000. Saudi Central Bank purchased a new stake in United Parcel Service in the first quarter valued at $32,000. Flaharty Asset Management LLC purchased a new position in shares of United Parcel Service during the first quarter worth about $33,000. Finally, RMG Wealth Management LLC purchased a new position in shares of United Parcel Service during the second quarter worth about $34,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $101.93 on Friday. The company’s fifty day moving average is $93.97 and its two-hundred day moving average is $92.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $86.48 billion, a P/E ratio of 15.75, a PEG ratio of 2.43 and a beta of 1.11. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $136.99.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.43. The company had revenue of $21.42 billion for the quarter, compared to analyst estimates of $20.94 billion. United Parcel Service had a net margin of 6.15% and a return on equity of 40.07%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.76 earnings per share. Analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, November 17th. United Parcel Service’s dividend payout ratio is 101.39%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UPS. Deutsche Bank Aktiengesellschaft decreased their target price on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company raised their price objective on shares of United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Stifel Nicolaus lifted their price objective on shares of United Parcel Service from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Truist Financial increased their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised United Parcel Service from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, United Parcel Service has an average rating of “Hold” and a consensus target price of $110.09.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.