Bleakley Financial Group LLC Cuts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Bleakley Financial Group LLC cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,449 shares of the transportation company's stock after selling 5,534 shares during the period. Bleakley Financial Group LLC's holdings in United Parcel Service were worth $3,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Garde Capital Inc. acquired a new stake in shares of United Parcel Service during the first quarter worth $37,000. Golden State Wealth Management LLC lifted its position in United Parcel Service by 61.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock worth $173,000 after acquiring an additional 599 shares during the period. CWA Asset Management Group LLC grew its stake in 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 last quarter. Advisor Resource Council acquired a new position in shares of United Parcel Service in the first quarter valued at about $437,000. Finally, Clark Capital Management Group Inc. raised its stake in shares of United Parcel Service by 14.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

Wall Street Analyst Weigh In

UPS has been the topic of several recent research reports. UBS Group dropped their price objective on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Bank of America lifted their price objective on shares of United Parcel Service from $111.00 to $115.00 and gave the company a "buy" rating in a report on Friday, May 16th. Susquehanna lowered their target price on shares of United Parcel Service from $120.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Barclays reduced their price target on United Parcel Service from $100.00 to $90.00 and set an "underweight" rating for the company in a report on Monday, March 31st. Finally, BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service presently has an average rating of "Hold" and an average price target of $119.13.

United Parcel Service Trading Up 0.1%

Shares of NYSE UPS traded up $0.10 during midday trading on Wednesday, reaching $99.63. 4,780,471 shares of the stock were exchanged, compared to its average volume of 5,255,905. The stock has a market capitalization of $84.36 billion, a P/E ratio of 14.52, a PEG ratio of 1.91 and a beta of 1.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day simple moving average of $99.74 and a 200 day simple moving average of $108.51. United Parcel Service, Inc. has a twelve month low of $90.55 and a twelve month high of $148.15.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS 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 business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the prior year, the company posted $1.43 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.58%. 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.