State of Michigan Retirement System Acquires 200 Shares of United Parcel Service, Inc. (NYSE:UPS)

State of Michigan Retirement System increased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,214 shares of the transportation company’s stock after acquiring an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in United Parcel Service were worth $29,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in shares of United Parcel Service by 0.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 17,530 shares of the transportation company’s stock worth $2,756,000 after acquiring an additional 64 shares in the last quarter. First Financial Corp IN raised its stake in United Parcel Service by 24.2% in the fourth quarter. First Financial Corp IN now owns 334 shares of the transportation company’s stock worth $53,000 after buying an additional 65 shares in the last quarter. Gleason Group Inc. raised its holdings in United Parcel Service by 1.1% in the fourth quarter. Gleason Group Inc. now owns 6,351 shares of the transportation company’s stock worth $999,000 after purchasing an additional 66 shares in the last quarter. Cullen Investment Group LTD. boosted its stake in United Parcel Service by 0.7% during the first quarter. Cullen Investment Group LTD. now owns 9,921 shares of the transportation company’s stock worth $1,480,000 after acquiring an additional 68 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its holdings in United Parcel Service by 0.5% in the third quarter. Advisors Capital Management LLC now owns 15,085 shares of the transportation company’s stock worth $2,351,000 after acquiring an additional 69 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on UPS. Susquehanna boosted their target price on United Parcel Service from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Oppenheimer lifted their target price on United Parcel Service from $153.00 to $157.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of United Parcel Service from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Morgan Stanley increased their target price on United Parcel Service from $95.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, March 27th. Finally, Evercore ISI dropped their price target on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $164.55.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded down $1.04 on Tuesday, hitting $134.91. 3,249,078 shares of the company were exchanged, compared to its average volume of 4,051,471. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average price is $141.52 and its 200 day moving average price is $148.31. United Parcel Service, Inc. has a 1-year low of $132.90 and a 1-year high of $192.98. The firm has a market capitalization of $115.42 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts predict that United Parcel Service, Inc. will post 8.22 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 13th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.83%. The ex-dividend date was Friday, May 10th. United Parcel Service’s payout ratio is 94.49%.

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.