DAVENPORT & Co LLC Sells 565,205 Shares of United Parcel Service, Inc. (NYSE:UPS)

DAVENPORT & Co LLC cut its position in United Parcel Service, Inc. (NYSE:UPS) by 83.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,999 shares of the transportation company’s stock after selling 565,205 shares during the quarter. DAVENPORT & Co LLC’s holdings in United Parcel Service were worth $16,944,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in UPS. International Assets Investment Management LLC grew its position in United Parcel Service by 15,631.2% during the fourth quarter. International Assets Investment Management LLC now owns 14,502,261 shares of the transportation company’s stock worth $2,280,190,000 after buying an additional 14,410,073 shares in the last quarter. Wellington Management Group LLP grew its position in United Parcel Service by 87.6% during the fourth quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock worth $2,854,180,000 after buying an additional 8,475,698 shares in the last quarter. Norges Bank purchased a new position in United Parcel Service during the fourth quarter worth about $1,128,322,000. First Trust Advisors LP grew its position in United Parcel Service by 208.1% during the fourth quarter. First Trust Advisors LP now owns 1,717,391 shares of the transportation company’s stock worth $270,025,000 after buying an additional 1,160,005 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in United Parcel Service by 11.4% during the fourth quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock worth $1,510,517,000 after buying an additional 980,317 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Up 1.9 %

Shares of NYSE:UPS traded up $2.59 during trading on Thursday, hitting $138.24. The stock had a trading volume of 3,446,598 shares, compared to its average volume of 3,995,858. The company has a quick ratio of 1.04, a current ratio of 1.10 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $118.27 billion, a PE ratio of 19.97, a PEG ratio of 1.72 and a beta of 0.98. The firm’s fifty day moving average is $139.83 and its 200 day moving average is $147.20. United Parcel Service, Inc. has a 12 month low of $132.90 and a 12 month high of $192.98.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.20 EPS. Analysts anticipate that United Parcel Service, Inc. will post 8.22 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 13th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $6.52 annualized dividend and a dividend yield of 4.72%. United Parcel Service’s payout ratio is currently 94.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Cowen cut their price objective on United Parcel Service from $147.00 to $140.00 and set a “hold” rating for the company in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft cut their price objective on United Parcel Service from $183.00 to $179.00 and set a “buy” rating for the company in a report on Thursday, March 28th. HSBC upgraded United Parcel Service from a “hold” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $170.00 in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on United Parcel Service from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, Susquehanna increased their target price on United Parcel Service from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $164.55.

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.