Cullen Frost Bankers Inc. Trims Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Cullen Frost Bankers Inc. lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,783 shares of the transportation company's stock after selling 13,144 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in United Parcel Service were worth $2,726,000 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 position in United Parcel Service in the 4th quarter valued at approximately $1,075,393,000. Franklin Resources Inc. grew 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 during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of United Parcel Service during the fourth quarter worth approximately $145,846,000. Price T Rowe Associates Inc. MD lifted its stake 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 during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of United Parcel Service by 316.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,122,886 shares of the transportation company's stock worth $141,581,000 after buying an additional 853,388 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Loop Capital dropped their price target on shares of United Parcel Service from $115.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Susquehanna reduced their price target on shares of United Parcel Service from $120.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Oppenheimer lowered their price objective on shares of 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. UBS Group cut their target price on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. Finally, Truist Financial reduced 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 research note 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. According to MarketBeat.com, United Parcel Service currently has an average rating of "Hold" and an average price target of $119.13.

United Parcel Service Stock Down 0.1%

Shares of UPS stock opened at $99.49 on Friday. The company's fifty day simple moving average is $99.79 and its two-hundred day simple moving average is $108.33. United Parcel Service, Inc. has a 52 week low of $90.55 and a 52 week high of $148.15. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The stock has a market cap of $84.25 billion, a P/E ratio of 14.50, a PEG ratio of 1.92 and a beta of 1.21.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The company had revenue of $21.50 billion during the quarter, compared to analysts' expectations of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. United Parcel Service's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. Analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service's dividend payout ratio (DPR) is presently 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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