Wells Fargo & Company Cuts United Parcel Service (NYSE:UPS) Price Target to $128.00

United Parcel Service (NYSE:UPS) had its price objective trimmed by Wells Fargo & Company from $150.00 to $128.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

Several other brokerages have also recently commented on UPS. Argus upgraded United Parcel Service from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Susquehanna lowered their price objective on shares of United Parcel Service from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday. Barclays reiterated an “underweight” rating and set a $120.00 target price on shares of United Parcel Service in a research report on Monday, October 21st. The Goldman Sachs Group lowered their price target on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley reduced their price objective on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service currently has a consensus rating of “Moderate Buy” and an average target price of $141.95.

United Parcel Service Trading Down 0.6 %

Shares of UPS stock opened at $114.19 on Friday. The company has a market capitalization of $97.45 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.88 and a beta of 1.00. United Parcel Service has a 12-month low of $109.62 and a 12-month high of $158.95. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $128.31 and a 200 day moving average price of $130.28.

United Parcel Service (NYSE:UPS) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. During the same period in the previous year, the company earned $2.47 earnings per share. Research analysts forecast that United Parcel Service will post 7.5 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Monday, November 18th. United Parcel Service’s dividend payout ratio is currently 96.45%.

Insiders Place Their Bets

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the sale, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On United Parcel Service

Large investors have recently added to or reduced their stakes in the company. Cigna Investments Inc. New increased its holdings in shares of United Parcel Service by 1.0% in the third quarter. Cigna Investments Inc. New now owns 7,508 shares of the transportation company’s stock worth $1,024,000 after buying an additional 75 shares during the period. Pacific Sage Partners LLC grew its position in United Parcel Service by 4.8% during the 4th quarter. Pacific Sage Partners LLC now owns 1,677 shares of the transportation company’s stock worth $212,000 after acquiring an additional 77 shares during the last quarter. Banco Santander S.A. increased its stake in shares of United Parcel Service by 0.6% in the third quarter. Banco Santander S.A. now owns 12,596 shares of the transportation company’s stock worth $1,717,000 after buying an additional 79 shares during the period. Gleason Group Inc. raised its holdings in United Parcel Service by 1.2% during the 3rd quarter. Gleason Group Inc. now owns 6,576 shares of the transportation company’s stock valued at $897,000 after buying an additional 80 shares during the last quarter. Finally, Quent Capital LLC boosted its position in United Parcel Service by 16.7% during the 4th quarter. Quent Capital LLC now owns 558 shares of the transportation company’s stock valued at $70,000 after buying an additional 80 shares during the period. Institutional investors own 60.26% of the company’s stock.

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.