Auto Owners Insurance Co Cuts Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Auto Owners Insurance Co lowered its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 56.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,400 shares of the transportation company's stock after selling 6,900 shares during the quarter. Auto Owners Insurance Co's holdings in United Parcel Service were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in UPS. Gallacher Capital Management LLC purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $620,000. Garde Capital Inc. purchased a new position in shares of United Parcel Service during the 1st quarter worth approximately $37,000. Golden State Wealth Management LLC increased its stake in United Parcel Service by 61.3% in the 1st quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock valued at $173,000 after purchasing an additional 599 shares in the last quarter. CWA Asset Management Group LLC increased its stake in United Parcel Service by 5.9% in 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 in the last quarter. Finally, Advisor Resource Council purchased a new position in United Parcel Service in the 1st quarter valued at approximately $437,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of research analyst reports. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a report on Thursday, July 3rd. JPMorgan Chase & Co. reduced their price objective on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. UBS Group dropped their target price on United Parcel Service from $128.00 to $124.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Oppenheimer dropped their target price on United Parcel Service from $126.00 to $114.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Truist Financial dropped their target price on 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 investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $119.13.

United Parcel Service Trading Up 2.2%

UPS opened at $101.10 on Wednesday. The firm's fifty day simple moving average is $99.85 and its 200 day simple moving average is $107.91. The stock has a market capitalization of $85.61 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.90 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24. United Parcel Service, Inc. has a 12 month low of $90.55 and a 12 month high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued 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 company had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date was Monday, May 19th. United Parcel Service's payout ratio is 95.63%.

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.

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