State of Michigan Retirement System Acquires 19,133 Shares of United Parcel Service, Inc. (NYSE:UPS)

State of Michigan Retirement System raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 179,819 shares of the transportation company’s stock after acquiring an additional 19,133 shares during the period. State of Michigan Retirement System’s holdings in United Parcel Service were worth $19,992,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UPS. TD Capital Management LLC bought a new stake in shares of United Parcel Service during the 1st quarter valued at $28,000. Ellevest Inc. raised its position in shares of United Parcel Service by 69.5% during the 2nd quarter. Ellevest Inc. now owns 300 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in shares of United Parcel Service during the 1st quarter valued at $34,000. Red Door Wealth Management LLC bought a new stake in shares of United Parcel Service during the 1st quarter valued at $38,000. Finally, M&R Capital Management Inc. raised its position in shares of United Parcel Service by 104.8% during the 2nd quarter. M&R Capital Management Inc. now owns 342 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 54.67% of the company’s stock.

Several brokerages have recently issued reports on UPS. BMO Capital Markets boosted their price target on shares of United Parcel Service from $95.00 to $115.00 and gave the company an “underperform” rating in a report on Friday. They noted that the move was a valuation call. Berenberg Bank reissued a “neutral” rating and issued a $105.00 price target on shares of United Parcel Service in a report on Tuesday, April 28th. CSFB decreased their price target on shares of United Parcel Service from $105.00 to $101.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Citigroup boosted their price target on shares of United Parcel Service from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Oppenheimer reissued a “buy” rating on shares of United Parcel Service in a report on Thursday. Four analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $123.62.

In other United Parcel Service news, CEO Carol B. Tome purchased 10,100 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $99.33 per share, with a total value of $1,003,233.00. Following the completion of the purchase, the chief executive officer now owns 13,036 shares of the company’s stock, valued at $1,294,865.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

United Parcel Service stock traded up $1.30 during mid-day trading on Friday, reaching $142.76. The company had a trading volume of 7,430,530 shares, compared to its average volume of 4,291,797. The business has a fifty day simple moving average of $113.28 and a 200 day simple moving average of $103.54. The company has a market cap of $123.08 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.49 and a beta of 0.84. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.50. The company has a current ratio of 1.24, a quick ratio of 1.22 and a debt-to-equity ratio of 5.86.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $2.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $1.06. The firm had revenue of $20.46 billion during the quarter, compared to the consensus estimate of $17.42 billion. United Parcel Service had a net margin of 5.66% and a return on equity of 156.85%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 earnings per share. Research analysts forecast that United Parcel Service, Inc. will post 5.52 EPS for the current year.

United Parcel Service Profile

United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.

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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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