Cornercap Investment Counsel Inc. Has $1.34 Million Stake in United Parcel Service, Inc. (NYSE:UPS)

Cornercap Investment Counsel Inc. cut its position in United Parcel Service, Inc. (NYSE:UPS) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,617 shares of the transportation company’s stock after selling 460 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in United Parcel Service were worth $1,339,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UPS. Norges Bank acquired a new stake in shares of United Parcel Service in the fourth quarter valued at approximately $1,075,393,000. Raymond James Financial Inc. bought a new stake in shares of United Parcel Service during the 4th quarter valued at $393,680,000. Two Sigma Advisers LP increased its position in shares of United Parcel Service by 833.4% in the third quarter. Two Sigma Advisers LP now owns 2,074,100 shares of the transportation company’s stock worth $282,783,000 after purchasing an additional 1,851,900 shares during the period. Van ECK Associates Corp grew its stake in United Parcel Service by 77.7% during the fourth quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock worth $397,329,000 after buying an additional 1,378,136 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in United Parcel Service by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock worth $2,933,674,000 after purchasing an additional 1,337,058 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on United Parcel Service from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of United Parcel Service in a research note on Friday, March 7th. They issued a “hold” rating and a $119.00 price objective for the company. Truist Financial began coverage on shares of United Parcel Service in a report on Thursday, March 13th. They set a “buy” rating and a $140.00 price target for the company. Stifel Nicolaus cut their price target on United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Loop Capital reduced their target price on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.57.

United Parcel Service Trading Down 1.2 %

UPS opened at $109.66 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The company’s 50-day moving average is $118.52 and its 200 day moving average is $126.44. The firm has a market capitalization of $93.66 billion, a PE ratio of 16.22, a P/E/G ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. 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 results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period last year, the company posted $2.47 earnings per share. As a group, research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were paid a $1.64 dividend. 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 annualized dividend and a yield of 5.98%. United Parcel Service’s dividend payout ratio (DPR) is 97.04%.

About United Parcel Service

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.