United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Econ Financial Services Corp

Econ Financial Services Corp cut its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 21.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,970 shares of the transportation company's stock after selling 3,558 shares during the period. Econ Financial Services Corp's holdings in United Parcel Service were worth $1,427,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Altus Wealth Group LLC boosted its position in shares of United Parcel Service by 4.6% during the fourth quarter. Altus Wealth Group LLC now owns 2,022 shares of the transportation company's stock valued at $255,000 after buying an additional 89 shares during the period. Colonial Trust Co SC boosted its holdings in United Parcel Service by 1.4% during the 4th quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock valued at $911,000 after acquiring an additional 98 shares during the period. Juncture Wealth Strategies LLC grew its stake in United Parcel Service by 2.5% in the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock worth $454,000 after purchasing an additional 101 shares in the last quarter. Cohen & Steers Inc. increased its holdings in United Parcel Service by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,054 shares of the transportation company's stock worth $259,000 after purchasing an additional 104 shares during the period. Finally, Diligent Investors LLC raised its position in United Parcel Service by 1.7% during the 4th quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock valued at $848,000 after purchasing an additional 111 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America increased their price target on United Parcel Service from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company restated an "equal weight" rating and issued a $98.00 price target (down previously from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. Wall Street Zen cut shares of United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Truist Financial cut their price objective 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. Finally, Citigroup reduced their price objective on shares of United Parcel Service from $149.00 to $123.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have issued 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.com, United Parcel Service has an average rating of "Hold" and a consensus target price of $120.26.

United Parcel Service Stock Performance

Shares of United Parcel Service stock traded down $1.12 during midday trading on Wednesday, hitting $99.50. The company had a trading volume of 6,055,938 shares, compared to its average volume of 5,192,294. The company has a quick ratio of 1.09, a current 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 $148.15. The stock has a market cap of $84.26 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.76 and a beta of 1.22. The company has a fifty day simple moving average of $97.89 and a 200 day simple moving average of $111.17.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $21.25 billion. During the same quarter last year, the business posted $1.43 EPS. The firm's quarterly revenue was down .9% on a year-over-year basis. As a group, analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

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