Pinnacle West Asset Management Inc. Increases Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Pinnacle West Asset Management Inc. increased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,360 shares of the transportation company’s stock after purchasing an additional 710 shares during the period. Pinnacle West Asset Management Inc.’s holdings in United Parcel Service were worth $867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in UPS. TruNorth Capital Management LLC purchased a new stake in United Parcel Service during the second quarter valued at about $28,000. Riverview Trust Co purchased a new stake in United Parcel Service during the second quarter valued at about $32,000. Centerpoint Advisors LLC lifted its stake in shares of United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. Stephens Consulting LLC lifted its stake in shares of United Parcel Service by 869.6% during the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in shares of 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 purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on UPS. Baird R W upgraded United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $150.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. BMO Capital Markets reduced their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. Finally, TD Cowen started coverage on United Parcel Service in a research note on Thursday, August 22nd. They set a “hold” rating and a $144.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.05.

United Parcel Service Stock Up 4.4 %

United Parcel Service stock traded up $5.77 during midday trading on Thursday, hitting $137.18. The stock had a trading volume of 7,752,817 shares, compared to its average volume of 4,197,449. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock has a market cap of $117.51 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.93 and a beta of 0.99. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $163.82. The business has a fifty day moving average price of $130.54 and a 200 day moving average price of $136.15.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 earnings per share. Research analysts predict that United Parcel Service, Inc. will post 7.44 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 106.36%.

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.