First Manhattan CO. LLC. Sells 12,687 Shares of United Parcel Service, Inc. (NYSE:UPS)

First Manhattan CO. LLC. reduced its position in United Parcel Service, Inc. (NYSE:UPS) by 12.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 93,195 shares of the transportation company’s stock after selling 12,687 shares during the quarter. First Manhattan CO. LLC.’s holdings in United Parcel Service were worth $11,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of United Parcel Service by 4.3% during the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after buying an additional 33,989 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in United Parcel Service during the 4th quarter valued at approximately $461,000. HF Advisory Group LLC bought a new stake in United Parcel Service during the fourth quarter valued at $1,305,000. Allspring Global Investments Holdings LLC increased its holdings in United Parcel Service by 27.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock worth $16,304,000 after purchasing an additional 28,108 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in United Parcel Service by 42.5% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 34,113 shares of the transportation company’s stock worth $4,302,000 after acquiring an additional 10,176 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on UPS shares. HSBC downgraded shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Thursday, May 1st. Citigroup decreased their price objective on shares of United Parcel Service from $149.00 to $123.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Loop Capital dropped their price objective on shares of United Parcel Service from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. StockNews.com lowered United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Baird R W lowered United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $120.87.

United Parcel Service Price Performance

Shares of UPS opened at $95.92 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The firm’s 50-day simple moving average is $104.28 and its two-hundred day simple moving average is $118.93. United Parcel Service, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $153.42. The stock has a market cap of $81.93 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The firm had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. United Parcel Service’s quarterly revenue was down .9% compared to the same quarter last year. Analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Monday, May 19th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Monday, May 19th. United Parcel Service’s dividend payout ratio is currently 95.63%.

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.