Canal Capital Management LLC Sells 2,321 Shares of United Parcel Service, Inc. (NYSE:UPS)

Canal Capital Management LLC trimmed its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,876 shares of the transportation company’s stock after selling 2,321 shares during the quarter. Canal Capital Management LLC’s holdings in United Parcel Service were worth $5,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diamant Asset Management Inc. increased its stake in shares of United Parcel Service by 2.8% in the 3rd quarter. Diamant Asset Management Inc. now owns 4,060 shares of the transportation company’s stock worth $554,000 after purchasing an additional 110 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in United Parcel Service by 12.2% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 17,236 shares of the transportation company’s stock worth $2,337,000 after acquiring an additional 1,880 shares during the period. Eaton Financial Holdings Company LLC purchased a new position in United Parcel Service during the third quarter valued at approximately $1,021,000. Pine Valley Investments Ltd Liability Co boosted its position in shares of United Parcel Service by 25.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 26,457 shares of the transportation company’s stock worth $3,607,000 after purchasing an additional 5,444 shares during the period. Finally, World Investment Advisors LLC increased its stake in shares of United Parcel Service by 79.6% in the third quarter. World Investment Advisors LLC now owns 17,675 shares of the transportation company’s stock worth $2,410,000 after purchasing an additional 7,836 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on UPS. Raymond James cut their price target on United Parcel Service from $145.00 to $130.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. Citigroup dropped their price target on United Parcel Service from $149.00 to $123.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Galvan Research reduced their price objective on shares of United Parcel Service from $147.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird downgraded shares of United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $130.00 in a report on Friday, January 31st. Finally, Loop Capital cut their price objective on United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, United Parcel Service has an average rating of “Moderate Buy” and an average target price of $129.70.

United Parcel Service Trading Up 2.3 %

Shares of NYSE:UPS opened at $96.34 on Monday. The firm has a market capitalization of $82.29 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.55 and a beta of 1.10. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $153.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The business’s 50-day moving average is $110.40 and its 200 day moving average is $122.61.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data 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 prior year, the company earned $2.47 earnings per share. On average, research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were issued a $1.64 dividend. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a yield of 6.81%. United Parcel Service’s payout ratio is presently 97.04%.

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.