Allspring Global Investments Holdings LLC Trims Holdings in United Parcel Service, Inc. (NYSE:UPS)

Allspring Global Investments Holdings LLC decreased its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 29.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,701 shares of the transportation company's stock after selling 38,922 shares during the period. Allspring Global Investments Holdings LLC's holdings in United Parcel Service were worth $10,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Garde Capital Inc. bought a new stake in United Parcel Service during the 1st quarter valued at $37,000. CWA Asset Management Group LLC raised its stake in shares of United Parcel Service by 5.9% during the 1st quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock valued at $381,000 after purchasing an additional 193 shares during the period. Advisor Resource Council purchased a new stake in United Parcel Service during the 1st quarter worth about $437,000. Clark Capital Management Group Inc. lifted its holdings in United Parcel Service by 14.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 11,427 shares of the transportation company's stock worth $1,441,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in 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 period. Institutional investors own 60.26% of the company's stock.

United Parcel Service Trading Down 1.2%

NYSE UPS traded down $1.30 during trading on Friday, hitting $104.24. 2,961,254 shares of the company's stock traded hands, compared to its average volume of 5,219,802. The stock has a fifty day moving average of $98.70 and a two-hundred day moving average of $110.00. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15. The firm has a market cap of $88.27 billion, a P/E ratio of 15.20, a PEG ratio of 1.86 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 (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The company had revenue of $21.50 billion during the quarter, compared to analysts' expectations of $21.25 billion. United Parcel Service's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. As a group, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio is 95.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on UPS shares. Truist Financial lowered 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 report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. BNP Paribas raised shares of United Parcel Service to a "hold" rating in a report on Thursday. Raymond James Financial decreased their price target on shares of United Parcel Service from $145.00 to $130.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $119.29.

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.