Westpac Banking Corp Sells 8,229 Shares of United Parcel Service, Inc. (NYSE:UPS)

Westpac Banking Corp trimmed its stake in United Parcel Service, Inc. (NYSE:UPS) by 61.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,244 shares of the transportation company’s stock after selling 8,229 shares during the period. Westpac Banking Corp’s holdings in United Parcel Service were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $25,000. Generali Investments Management Co LLC acquired a new stake in United Parcel Service during the 4th quarter valued at approximately $26,000. IFS Advisors LLC raised its holdings in United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after purchasing an additional 151 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of United Parcel Service in the 4th quarter worth approximately $30,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of United Parcel Service in the 4th quarter valued at $34,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPS has been the topic of several recent analyst reports. Baird R W lowered shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Friday, January 31st. Evercore ISI boosted their price objective on United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a research note on Wednesday, January 22nd. Wolfe Research upgraded United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 target price for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on United Parcel Service in a research note on Friday, March 7th. They issued a “hold” rating and a $119.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of United Parcel Service from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.18.

United Parcel Service Stock Down 2.5 %

Shares of NYSE:UPS opened at $97.62 on Friday. The business’s 50 day moving average is $115.82 and its 200 day moving average is $125.64. United Parcel Service, Inc. has a 12-month low of $96.57 and a 12-month high of $153.42. The stock has a market cap of $83.39 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.55 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the prior year, the business posted $2.47 EPS. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $6.56 annualized dividend and a dividend yield of 6.72%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

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.