United Parcel Service (NYSE:UPS) Shares Down 1.9% – Here’s What Happened

United Parcel Service, Inc. (NYSE:UPS) shares dropped 1.9% during trading on Thursday. The stock traded as low as $110.26 and last traded at $110.3680. 4,072,617 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 5,606,890 shares. The stock had previously closed at $112.45.

Key Stories Impacting United Parcel Service

These are some of the UPS stories that stood out recently:

• Positive Sentiment: Analysts modestly raised fair-value estimates to about $115.46 from $112.54, citing UPS’s third-quarter earnings beat, improved business mix and productivity. The revisions suggest a somewhat stronger outlook, though analysts also debate how much progress is already reflected in the stock. UPS Stock Gets Fair Value Bump After Q3 Beat And Analyst Revisions
• Positive Sentiment: UPS is investing more than $80 million in a new air hub in the Philippines to expand its Asian network and serve changing regional trade routes. This could support long-term growth, although the investment will require capital and benefits may take time to emerge. UPS Opens $80 Million Philippines Air Hub As Asia Trade Shifts
• Neutral Sentiment: A recent investment commentary describes UPS as a stabilized, high-yield business with a low valuation and a competitive moat. This may appeal to income-focused investors, but it is an opinion rather than a new company announcement. Few S&P 500 Stocks Yield Over 5%. Here’s My Top Pick to Buy Now.

Analysts Set New Price Targets

UPS has been the topic of a number of analyst reports. Susquehanna boosted their target price on shares of United Parcel Service from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. BMO Capital Markets boosted their price objective on shares of United Parcel Service from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Evercore upped their price objective on shares of United Parcel Service from $117.00 to $118.00 in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of United Parcel Service from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $118.45.

United Parcel Service Price Performance

The stock has a market cap of $93.90 billion, a PE ratio of 21.22, a PEG ratio of 1.99 and a beta of 0.98. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.67. The business’s 50-day simple moving average is $100.25 and its 200-day simple moving average is $104.76.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Wednesday, November 4th. The transportation company reported $1.69 earnings per share for the quarter. United Parcel Service had a return on equity of 37.78% and a net margin of 4.84%. The business had revenue of $22.85 billion during the quarter. On average, research analysts expect that United Parcel Service, Inc. will post 7.28 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Monday, November 16th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Monday, November 16th. United Parcel Service’s payout ratio is presently 126.15%.

Insider Buying and Selling

In other news, insider Matthew Guffey sold 8,318 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $105.39, for a total value of $876,634.02. Following the completion of the sale, the insider directly owned 271 shares of the company’s stock, valued at approximately $28,560.69. This trade represents a 96.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On United Parcel Service

Large investors have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID lifted its holdings in United Parcel Service by 48.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 309 shares of the transportation company’s stock worth $30,000 after buying an additional 101 shares during the period. Markowski Investments purchased a new position in shares of United Parcel Service during the 2nd quarter worth approximately $30,000. Allied Private Wealth LLC bought a new position in shares of United Parcel Service in the 2nd quarter worth approximately $34,000. DiPaolo Financial Group Inc. bought a new position in shares of United Parcel Service in the 3rd quarter worth approximately $35,000. Finally, Grove Bank & Trust raised its position in shares of United Parcel Service by 49.8% in the 2nd quarter. Grove Bank & Trust now owns 379 shares of the transportation company’s stock worth $41,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

About United Parcel Service

United Parcel Service, Inc. (UPS) is a global package delivery and logistics company. Its services include domestic and international shipping, air and ground delivery, freight forwarding, customs brokerage, and supply chain management. UPS also provides solutions for businesses, including warehousing, inventory management, healthcare logistics, and returns processing. Its network serves customers in more than 200 countries and territories. Founded in Seattle in 1907 as the American Messenger Company, UPS is headquartered in Atlanta, Georgia.