Atlantic Union Bankshares Corp Decreases Position in United Parcel Service, Inc. (NYSE:UPS)

Atlantic Union Bankshares Corp lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,334 shares of the transportation company’s stock after selling 891 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in United Parcel Service were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in United Parcel Service by 15,631.2% in the fourth quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock valued at $2,280,190,000 after buying an additional 14,410,073 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of United Parcel Service by 87.6% in the 4th quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock valued at $2,854,180,000 after purchasing an additional 8,475,698 shares during the last quarter. Norges Bank acquired a new position in shares of United Parcel Service in the 4th quarter valued at $1,128,322,000. First Trust Advisors LP boosted its holdings in shares of United Parcel Service by 208.1% in the 4th quarter. First Trust Advisors LP now owns 1,717,391 shares of the transportation company’s stock valued at $270,025,000 after purchasing an additional 1,160,005 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of United Parcel Service by 11.4% in the 4th quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock valued at $1,510,517,000 after purchasing an additional 980,317 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UPS has been the topic of several recent research reports. Redburn Atlantic upgraded shares of United Parcel Service from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, April 3rd. Oppenheimer lifted their target price on shares of United Parcel Service from $153.00 to $157.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of United Parcel Service from $183.00 to $179.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Evercore ISI reduced their target price on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday. Finally, HSBC raised shares of United Parcel Service from a “hold” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $170.00 in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, United Parcel Service presently has an average rating of “Hold” and a consensus price target of $164.55.

United Parcel Service Stock Performance

UPS stock traded up $1.02 on Friday, reaching $136.85. The company’s stock had a trading volume of 6,607,956 shares, compared to its average volume of 4,068,995. United Parcel Service, Inc. has a 52 week low of $132.90 and a 52 week high of $192.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.10 and a quick ratio of 1.04. The company has a market capitalization of $117.08 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. The firm has a fifty day moving average of $141.71 and a two-hundred day moving average of $148.61.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. As a group, analysts predict that United Parcel Service, Inc. will post 8.22 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 13th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $6.52 annualized dividend and a yield of 4.76%. United Parcel Service’s payout ratio is 94.49%.

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.