United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,793,214 shares of the transportation company's stock after selling 219,637 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of United Parcel Service worth $527,206,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in UPS. Norges Bank acquired a new stake in shares of United Parcel Service during the fourth quarter worth about $1,075,393,000. Franklin Resources Inc. raised its holdings in 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 worth $1,384,567,000 after purchasing an additional 1,484,452 shares in the last quarter. Amundi raised its holdings in United Parcel Service by 14.6% during the fourth quarter. Amundi now owns 10,040,863 shares of the transportation company's stock worth $1,272,600,000 after purchasing an additional 1,277,328 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in United Parcel Service during the fourth quarter worth about $145,846,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in United Parcel Service by 19.7% during 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 in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

Analyst Upgrades and Downgrades

UPS has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, April 7th. HSBC cut shares of United Parcel Service from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a report on Thursday, May 1st. UBS Group cut their price target on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday. Wall Street Zen cut shares of United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Oppenheimer dropped their target price on shares of United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $119.29.

United Parcel Service Trading Down 1.2%

UPS stock traded down $1.30 during midday trading on Friday, hitting $104.24. The stock had a trading volume of 2,961,254 shares, compared to its average volume of 5,227,763. The company's 50-day moving average price is $98.83 and its 200 day moving average price is $109.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $88.27 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15.

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, beating the consensus estimate 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 return on equity of 40.15% and a net margin of 6.44%. United Parcel Service's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. On average, equities research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.29%. 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.