Peapack Gladstone Financial Corp Boosts Holdings in United Parcel Service, Inc. (NYSE:UPS)

Peapack Gladstone Financial Corp increased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,261 shares of the transportation company's stock after buying an additional 6,157 shares during the period. Peapack Gladstone Financial Corp's holdings in United Parcel Service were worth $11,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in UPS. Norges Bank acquired a new position in United Parcel Service in the 4th quarter valued at $1,075,393,000. Raymond James Financial Inc. acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $393,680,000. Franklin Resources Inc. lifted its stake in shares of United Parcel Service by 15.6% in the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock worth $1,384,567,000 after buying an additional 1,484,452 shares in the last quarter. Van ECK Associates Corp boosted its position 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 acquiring an additional 1,378,136 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in United Parcel Service by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company's stock valued at $2,933,674,000 after acquiring an additional 1,337,058 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

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Analyst Ratings Changes

UPS has been the subject of a number of analyst reports. Susquehanna dropped their price target on United Parcel Service from $130.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Baird R W downgraded United Parcel Service from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 31st. Robert W. Baird cut shares of United Parcel Service from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $160.00 to $130.00 in a research report on Friday, January 31st. The Goldman Sachs Group reduced their target price on shares of United Parcel Service from $166.00 to $147.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Citigroup dropped their price target on shares of United Parcel Service from $149.00 to $123.00 and set a "buy" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.32.

United Parcel Service Stock Down 4.6 %

Shares of UPS traded down $4.56 during midday trading on Thursday, hitting $95.10. The company had a trading volume of 2,629,084 shares, compared to its average volume of 4,774,014. The company's 50-day simple moving average is $112.70 and its 200-day simple moving average is $124.44. 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, Inc. has a 1 year low of $90.55 and a 1 year high of $153.42. The firm has a market capitalization of $81.23 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.55 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 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 quarter in the previous year, the firm posted $2.47 earnings per share. As a group, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.90%. This is an increase from United Parcel Service's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service's payout ratio is 97.04%.

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.