Time: 2024-07-23
United Parcel Service , Inc. ( NYSE : UPS ) experienced a slight dip in its stock price on Monday after Bank of America revised their price target for the company . The stock traded at 44.71 , with a decrease of 0.3 % from the previous trading day . The total trading volume was approximately 558,091 shares , significantly lower than the average daily volume of 3,957,832 shares .
In recent research reports , various financial institutions have adjusted their price targets for United Parcel Service . JPMorgan Chase & Co. lowered their price target to 50.00 , while BMO Capital Markets increased theirs to 69.00 . Oppenheimer also raised their price target to 57.00 and Redburn Atlantic upgraded the stock to a " buy " rating with a price objective of 80.00 . Stifel Nicolaus , on the other hand , reduced their price objective to 70.00 . Overall , the company has received a mix of ratings from analysts , with an average price target of 64.45.
Several major investors have recently made changes to their holdings in United Parcel Service . Vanguard Group Inc. and Wellington Management Group LLP both increased their stakes in the company , while International Assets Investment Management LLC and Franklin Resources Inc. also saw growth in their holdings . Norges Bank entered the scene as a new stakeholder in the company . Currently , institutional investors own approximately 60.26 % of United Parcel Service 's stock.
United Parcel Service has a market capitalization of 24.21 billion , with a P / E ratio of 21.03 and a beta of 0.98 . The company recently reported earnings of .43 per share for the quarter , surpassing analyst estimates . The revenue for the quarter was slightly lower than expected , resulting in a decrease from the previous year . Despite this , United Parcel Service remains optimistic about its performance for the current fiscal year.
The company also announced a quarterly dividend payout of .63 per share , with an annualized dividend yield of 4.49 % . This dividend payout represents a significant portion of United Parcel Service 's earnings , indicating a strong commitment to rewarding shareholders .
United Parcel Service continues to provide a range of services , including transportation and delivery , distribution , and logistics solutions . The company operates both domestically and internationally , catering to a diverse set of clients . Investors are advised to closely monitor the stock 's performance and stay updated on any further developments in the company 's operations.
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