Wells Fargo & Company Increases United Parcel Service (NYSE:UPS) Price Target to $142.00

14 Oct 2024, 06:59 by Mitch Edgeman · The Markets Daily

United Parcel Service (NYSE:UPS – Free Report) had its price objective hoisted by Wells Fargo & Company from $134.00 to $142.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other analysts also recently weighed in on UPS. Stephens reduced their target price on shares of United Parcel Service from $168.00 to $140.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. 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. Robert W. Baird lowered their price objective on United Parcel Service from $170.00 to $160.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. 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. Finally, Oppenheimer lowered their price target on United Parcel Service from $157.00 to $140.00 and set an outperform rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $151.24.

Check Out Our Latest Research Report on UPS

United Parcel Service Trading Up 1.3 %

Shares of UPS stock opened at $134.60 on Thursday. 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 capitalization of $115.30 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. United Parcel Service has a 12-month low of $123.12 and a 12-month high of $163.82. The stock’s 50-day moving average price is $129.21 and its 200-day moving average price is $136.96.

United Parcel Service (NYSE:UPS – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 35.27% and a net margin of 5.87%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 EPS. Equities research analysts predict that United Parcel Service will post 7.43 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.84%. United Parcel Service’s payout ratio is currently 106.36%.

Insiders Place Their Bets

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $128.61 per share, for a total transaction of $643,050.00. Following the completion of the purchase, the director now owns 5,160 shares in the company, valued at approximately $663,627.60. This trade represents a 3,100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Parcel Service

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in United Parcel Service by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 67,218,714 shares of the transportation company’s stock valued at $10,568,798,000 after purchasing an additional 178,394 shares in the last quarter. Wellington Management Group LLP raised its position in shares of United Parcel Service by 87.6% in the fourth quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock valued at $2,854,180,000 after buying an additional 8,475,698 shares during the last quarter. Clearbridge Investments LLC raised its holdings in United Parcel Service by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock valued at $991,556,000 after acquiring an additional 406,248 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of United Parcel Service by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock valued at $888,254,000 after purchasing an additional 20,426 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of United Parcel Service by 10.5% during the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock worth $567,157,000 after acquiring an additional 393,434 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Company Profile

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