United Parcel Service (NYSE:UPS) Given New $129.00 Price Target at Bank of America

United Parcel Service (NYSE:UPS) had its target price trimmed by Bank of America from $133.00 to $129.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other analysts have also recently commented on UPS. Wells Fargo & Company reduced their price objective on United Parcel Service from $150.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Morgan Stanley lowered their price objective on shares of United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Baird R W lowered shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 31st. Truist Financial began coverage on United Parcel Service in a report on Thursday, March 13th. They set a “buy” rating and a $140.00 price target for the company. Finally, BMO Capital Markets raised United Parcel Service from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $155.00 to $150.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.57.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $111.05 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The firm has a market cap of $94.85 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. The business has a 50-day simple moving average of $118.92 and a two-hundred day simple moving average of $126.58. United Parcel Service has a fifty-two week low of $109.40 and a fifty-two week high of $154.29.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data 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 net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the previous year, the business earned $2.47 earnings per share. On average, analysts expect that United Parcel Service will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.64 per share. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.91%. United Parcel Service’s dividend payout ratio (DPR) is presently 97.04%.

Institutional Investors Weigh In On United Parcel Service

A number of hedge funds have recently made changes to their positions in UPS. Principal Financial Group Inc. raised its holdings in shares of United Parcel Service by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after acquiring an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC bought a new stake in United Parcel Service in the fourth quarter worth $461,000. Synovus Financial Corp raised its stake in United Parcel Service by 8.6% during the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after purchasing an additional 6,941 shares in the last quarter. HF Advisory Group LLC bought a new position in United Parcel Service during the fourth quarter valued at $1,305,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of United Parcel Service by 27.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock worth $16,304,000 after buying an additional 28,108 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

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.