Sumitomo Mitsui Trust Group Inc. Grows Stake in United Parcel Service, Inc. (NYSE:UPS)

Sumitomo Mitsui Trust Group Inc. increased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 1,752,700 shares of the transportation company’s stock after acquiring an additional 14,635 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in United Parcel Service were worth $238,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TruNorth Capital Management LLC purchased a new stake in shares of United Parcel Service in the second quarter worth about $28,000. Riverview Trust Co bought a new position in United Parcel Service during the second quarter valued at $32,000. Centerpoint Advisors LLC grew its stake in shares of United Parcel Service by 291.7% in 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 in the last quarter. Tortoise Investment Management LLC increased its holdings in shares of United Parcel Service by 168.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after buying an additional 155 shares during the last quarter. Finally, PSI Advisors LLC raised its position in shares of United Parcel Service by 408.2% during the 3rd quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of NYSE:UPS opened at $130.17 on Wednesday. The firm has a 50 day moving average of $132.12 and a 200 day moving average of $135.01. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $111.50 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping 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 analyst estimates of $22.10 billion. During the same period in the previous year, the company posted $1.57 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.48 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service’s dividend payout ratio is currently 98.49%.

Analyst Ratings Changes

UPS has been the subject of several recent research reports. UBS Group lifted their price target on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. TD Cowen assumed coverage on United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price on the stock. Citigroup lowered their price target on United Parcel Service from $163.00 to $158.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird lowered their target price on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Bank of America upped their price target on shares of United Parcel Service from $132.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service has an average rating of “Moderate Buy” and an average target price of $151.52.

About United Parcel Service

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.