Pinnacle Financial Partners Inc Has $12.53 Million Stock Position in United Parcel Service, Inc. (NYSE:UPS)

by · The Markets Daily

Pinnacle Financial Partners Inc reduced its stake in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 91,890 shares of the transportation company’s stock after selling 626 shares during the period. Pinnacle Financial Partners Inc’s holdings in United Parcel Service were worth $12,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in United Parcel Service by 1,061.1% in the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock valued at $232,959,000 after buying an additional 1,620,091 shares in the last quarter. Natixis bought a new position in shares of United Parcel Service during the first quarter valued at about $121,000. Cohen Investment Advisors LLC grew its holdings in United Parcel Service by 26.4% during the third quarter. Cohen Investment Advisors LLC now owns 18,357 shares of the transportation company’s stock valued at $2,503,000 after purchasing an additional 3,835 shares during the period. Financial Partners Group LLC raised its holdings in United Parcel Service by 23.9% during the 2nd quarter. Financial Partners Group LLC now owns 26,319 shares of the transportation company’s stock valued at $3,602,000 after acquiring an additional 5,069 shares during the period. Finally, Weaver C. Barksdale & Associates Inc. increased its holdings in shares of United Parcel Service by 71.8% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 14,530 shares of the transportation company’s stock worth $1,988,000 after purchasing an additional 6,073 shares during the period. 60.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UPS shares. Stifel Nicolaus upped their price objective on shares of United Parcel Service from $151.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Argus raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Susquehanna lifted their price objective on United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com upgraded United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, TD Cowen assumed coverage on shares of United Parcel Service in a research note on Thursday, August 22nd. They set a “hold” rating and a $144.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.52.

Read Our Latest Stock Analysis on United Parcel Service

United Parcel Service Price Performance

UPS stock opened at $130.17 on Wednesday. The firm has a 50-day moving average of $132.17 and a two-hundred day moving average of $134.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $111.50 billion, a PE ratio of 19.66, a P/E/G ratio of 2.16 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82.

United Parcel Service (NYSE:UPS – Get Free Report) last released its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 EPS. On average, analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Monday, November 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

About United Parcel Service

(Free Report)

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.

Further Reading

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