Federated Hermes Inc. Trims Position in United Parcel Service, Inc. (NYSE:UPS)

Federated Hermes Inc. cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,281,484 shares of the transportation company’s stock after selling 342,532 shares during the period. Federated Hermes Inc.’s holdings in United Parcel Service were worth $140,950,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in UPS. Pacer Advisors Inc. increased its stake in shares of United Parcel Service by 1,056.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after buying an additional 3,961,255 shares during the period. Franklin Resources Inc. increased its stake in shares of United Parcel Service by 15.6% during the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock valued at $1,384,567,000 after buying an additional 1,484,452 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of United Parcel Service during the fourth quarter valued at approximately $145,846,000. Price T Rowe Associates Inc. MD grew its stake in United Parcel Service by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company’s stock worth $815,102,000 after purchasing an additional 1,064,293 shares during the period. Finally, Janus Henderson Group PLC grew its stake in United Parcel Service by 316.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,122,886 shares of the transportation company’s stock worth $141,581,000 after purchasing an additional 853,388 shares during the period. 60.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UPS. UBS Group reduced their price target on United Parcel Service from $128.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Bernstein Bank upped their price target on United Parcel Service from $132.00 to $133.00 in a research note on Wednesday, April 30th. Argus reduced their price target on United Parcel Service from $150.00 to $120.00 in a research note on Friday, May 23rd. BMO Capital Markets reduced their price target on United Parcel Service from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, BNP Paribas Exane raised United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $116.32.

United Parcel Service Trading Down 2.1%

Shares of NYSE:UPS opened at $101.38 on Tuesday. The company has a market cap of $85.85 billion, a P/E ratio of 14.78, a PEG ratio of 1.99 and a beta of 1.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $145.01. The stock’s fifty day moving average price is $100.06 and its 200-day moving average price is $106.94.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion for 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 company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service’s payout ratio is currently 95.63%.

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.