Institute for Wealth Management LLC. Sells 575 Shares of United Parcel Service, Inc. (NYSE:UPS)

Institute for Wealth Management LLC. lessened its holdings in United Parcel Service, Inc. (NYSE:UPS) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,659 shares of the transportation company’s stock after selling 575 shares during the quarter. Institute for Wealth Management LLC.’s holdings in United Parcel Service were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Clark Capital Management Group Inc. boosted its stake in United Parcel Service by 14.4% in the fourth quarter. Clark Capital Management Group Inc. now owns 11,427 shares of the transportation company’s stock valued at $1,441,000 after acquiring an additional 1,440 shares during the last quarter. LaFleur & Godfrey LLC lifted its stake in shares of United Parcel Service by 62.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 6,225 shares of the transportation company’s stock valued at $785,000 after purchasing an additional 2,401 shares during the period. Argyle Capital Management LLC lifted its stake in shares of United Parcel Service by 11.4% in the 4th quarter. Argyle Capital Management LLC now owns 26,428 shares of the transportation company’s stock valued at $3,333,000 after purchasing an additional 2,695 shares during the period. Brighton Jones LLC boosted its position in shares of United Parcel Service by 63.8% in the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after purchasing an additional 4,723 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of United Parcel Service by 21.6% during the fourth quarter. TCW Group Inc. now owns 165,596 shares of the transportation company’s stock worth $20,882,000 after purchasing an additional 29,411 shares during the period. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Down 0.6%

NYSE:UPS opened at $99.12 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $83.93 billion, a PE ratio of 14.45, a PEG ratio of 1.74 and a beta of 1.22. United Parcel Service, Inc. has a 52-week low of $90.55 and a 52-week high of $148.15. The stock has a 50-day simple moving average of $97.72 and a 200 day simple moving average of $111.86.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service’s payout ratio is 95.63%.

Analysts Set New Price Targets

UPS has been the subject of a number of recent analyst reports. Barclays cut their target price on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating on the stock in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of United Parcel Service in a research report on Friday, March 7th. They issued a “hold” rating and a $119.00 price target on the stock. Hsbc Global Res cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Stifel Nicolaus lowered their target price on shares of United Parcel Service from $145.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Truist Financial reduced their price target on shares of United Parcel Service from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $120.26.

United Parcel Service 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.