Summit Global Investments Acquires 7,478 Shares of United Parcel Service, Inc. $UPS

Summit Global Investments grew its holdings in United Parcel Service, Inc. (NYSE:UPS) by 56.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,780 shares of the transportation company’s stock after purchasing an additional 7,478 shares during the period. Summit Global Investments’ holdings in United Parcel Service were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in United Parcel Service in the 4th quarter worth about $25,000. IFC & Insurance Marketing Inc. purchased a new stake in United Parcel Service in the 4th quarter valued at about $25,000. Coston McIsaac & Partners grew its stake in United Parcel Service by 77.8% in the 4th quarter. Coston McIsaac & Partners now owns 272 shares of the transportation company’s stock worth $27,000 after acquiring an additional 119 shares in the last quarter. Torren Management LLC bought a new position in United Parcel Service in the 4th quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of United Parcel Service during the fourth quarter worth approximately $29,000. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UPS has been the subject of several research analyst reports. Weiss Ratings raised shares of United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Citigroup increased their price objective on United Parcel Service from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. UBS Group reduced their price objective on United Parcel Service from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stephens upgraded United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.10.

United Parcel Service Price Performance

Shares of UPS opened at $113.19 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day moving average price of $106.94 and a 200-day moving average price of $106.24. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $122.41. The stock has a market capitalization of $96.21 billion, a PE ratio of 18.32, a PEG ratio of 1.87 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. United Parcel Service’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.49 earnings per share. Equities analysts predict that United Parcel Service, Inc. will post 7.1 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, May 18th. United Parcel Service’s dividend payout ratio (DPR) is 106.15%.

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.