Olstein Capital Management L.P. Purchases 10,000 Shares of United Parcel Service, Inc. (NYSE:UPS)

Olstein Capital Management L.P. lifted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 20.8% during the first quarter, HoldingsChannel reports. The firm owned 58,000 shares of the transportation company’s stock after buying an additional 10,000 shares during the quarter. United Parcel Service comprises 1.4% of Olstein Capital Management L.P.’s portfolio, making the stock its 24th largest holding. Olstein Capital Management L.P.’s holdings in United Parcel Service were worth $8,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in UPS. AQR Capital Management LLC boosted its holdings in shares of United Parcel Service by 44.3% in the third quarter. AQR Capital Management LLC now owns 160,838 shares of the transportation company’s stock valued at $25,004,000 after buying an additional 49,356 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of United Parcel Service by 16.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 709,100 shares of the transportation company’s stock valued at $110,527,000 after purchasing an additional 102,000 shares in the last quarter. ELCO Management Co. LLC grew its holdings in shares of United Parcel Service by 19.8% during the third quarter. ELCO Management Co. LLC now owns 1,623 shares of the transportation company’s stock worth $253,000 after buying an additional 268 shares in the last quarter. KPP Advisory Services LLC bought a new position in shares of United Parcel Service during the third quarter worth about $340,000. Finally, Jackson Wealth Management LLC raised its position in United Parcel Service by 4.8% in the 3rd quarter. Jackson Wealth Management LLC now owns 15,278 shares of the transportation company’s stock valued at $2,381,000 after buying an additional 693 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Analysts Set New Price Targets

UPS has been the topic of a number of research reports. Susquehanna boosted their price objective on shares of United Parcel Service from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. HSBC upgraded United Parcel Service from a “hold” rating to a “buy” rating and raised their price objective for the company from $150.00 to $170.00 in a report on Thursday, April 25th. Morgan Stanley raised their price target on United Parcel Service from $95.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of United Parcel Service from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, TD Cowen cut their price target on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $164.55.

United Parcel Service Stock Performance

Shares of UPS traded up $0.64 during mid-day trading on Wednesday, hitting $135.55. 1,539,867 shares of the company’s stock were exchanged, compared to its average volume of 4,031,853. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 1.11. The firm has a market cap of $115.97 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The stock’s 50-day simple moving average is $141.24 and its 200-day simple moving average is $148.12. United Parcel Service, Inc. has a 52 week low of $132.90 and a 52 week high of $192.98.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period in the prior year, the firm posted $2.20 EPS. United Parcel Service’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts expect that United Parcel Service, Inc. will post 8.22 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 13th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $6.52 annualized dividend and a dividend yield of 4.81%. United Parcel Service’s dividend payout ratio is 94.49%.

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.