Raymond James Financial Inc. Invests $393.68 Million in United Parcel Service, Inc. (NYSE:UPS)

Raymond James Financial Inc. bought a new position in United Parcel Service, Inc. (NYSE:UPS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,121,966 shares of the transportation company’s stock, valued at approximately $393,680,000. Raymond James Financial Inc. owned about 0.37% of United Parcel Service as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vision Financial Markets LLC bought a new stake in shares of United Parcel Service in the 4th quarter worth approximately $392,000. Arizona State Retirement System raised its holdings in shares of United Parcel Service by 1.1% in the 4th quarter. Arizona State Retirement System now owns 211,390 shares of the transportation company’s stock worth $26,656,000 after purchasing an additional 2,254 shares during the period. Aigen Investment Management LP raised its holdings in shares of United Parcel Service by 196.0% in the 4th quarter. Aigen Investment Management LP now owns 27,224 shares of the transportation company’s stock worth $3,433,000 after purchasing an additional 18,027 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of United Parcel Service in the 4th quarter worth approximately $219,000. Finally, Assetmark Inc. raised its holdings in shares of United Parcel Service by 23.9% in the 4th quarter. Assetmark Inc. now owns 100,212 shares of the transportation company’s stock worth $12,637,000 after purchasing an additional 19,326 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

UPS has been the topic of a number of research reports. StockNews.com raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird cut shares of United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $130.00 in a report on Friday, January 31st. Citigroup lowered their price target on shares of United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, January 31st. BMO Capital Markets raised shares of United Parcel Service from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $155.00 to $150.00 in a report on Tuesday, December 10th. Finally, UBS Group lowered their target price on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus target price of $140.73.

United Parcel Service Trading Up 2.0 %

United Parcel Service stock opened at $119.10 on Thursday. United Parcel Service, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $158.95. The firm’s fifty day moving average price is $121.94 and its 200-day moving average price is $127.88. The stock has a market cap of $101.73 billion, a P/E ratio of 17.62, a PEG ratio of 1.55 and a beta of 0.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period last year, the firm earned $2.47 earnings per share. Equities research analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a yield of 5.51%. United Parcel Service’s payout ratio 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.