Modern Wealth Management LLC Raises Position in United Parcel Service, Inc. (NYSE:UPS)

Modern Wealth Management LLC boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 85.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,763 shares of the transportation company’s stock after buying an additional 5,431 shares during the period. Modern Wealth Management LLC’s holdings in United Parcel Service were worth $1,483,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in United Parcel Service in the 4th quarter valued at $794,000. CoreFirst Bank & Trust acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $314,000. Prudential Financial Inc. lifted its stake in shares of United Parcel Service by 107.7% in the fourth quarter. Prudential Financial Inc. now owns 1,361,621 shares of the transportation company’s stock worth $171,700,000 after buying an additional 705,897 shares in the last quarter. Syntax Research Inc. lifted its stake in shares of United Parcel Service by 24.3% in the fourth quarter. Syntax Research Inc. now owns 4,858 shares of the transportation company’s stock worth $613,000 after buying an additional 949 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in United Parcel Service during the fourth quarter worth about $255,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Trading Down 5.0 %

Shares of NYSE UPS opened at $110.01 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $93.97 billion, a PE ratio of 16.27, a PEG ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a twelve month low of $109.40 and a twelve month high of $157.99. The stock has a fifty day simple moving average of $119.63 and a 200-day simple moving average of $126.79.

United Parcel Service (NYSE:UPS) last released its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period in the prior year, the company posted $2.47 earnings per share. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a yield of 5.96%. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s dividend payout ratio is presently 97.04%.

Analysts Set New Price Targets

A number of research analysts have weighed in on UPS shares. StockNews.com raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company reduced their price objective on United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. 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. Truist Financial started coverage on United Parcel Service in a report on Thursday, March 13th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.91.

United Parcel Service 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.