Cornercap Investment Counsel Inc. Purchases Shares of 11,077 United Parcel Service, Inc. (NYSE:UPS)

Cornercap Investment Counsel Inc. purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,077 shares of the transportation company’s stock, valued at approximately $1,510,000.

Several other large investors also recently made changes to their positions in UPS. TruNorth Capital Management LLC acquired a new position in United Parcel Service in the second quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in shares of United Parcel Service in the 2nd quarter valued at $32,000. Centerpoint Advisors LLC raised its stake in United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after buying an additional 175 shares during the period. Tortoise Investment Management LLC lifted its holdings in United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after acquiring an additional 155 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in United Parcel Service by 408.2% in the third quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Down 0.8 %

Shares of United Parcel Service stock opened at $132.64 on Friday. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The firm has a market cap of $113.62 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.99. The company has a 50-day moving average of $132.27 and a 200 day moving average of $134.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same period last year, the company earned $1.57 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Monday, November 18th. United Parcel Service’s payout ratio is presently 98.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UPS. Oppenheimer raised their price target on United Parcel Service from $140.00 to $146.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Susquehanna boosted their price objective on shares of United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. The Goldman Sachs Group lowered their target price on United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Stephens reduced their price objective on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Bank of America increased their price objective on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.52.

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.