First Foundation Advisors Trims Stock Holdings in United Parcel Service, Inc. $UPS

Key Points

• First Foundation Advisors cut its UPS stake by 8.5% in the fourth quarter, selling 16,442 shares and leaving it with 176,113 shares worth about $17.5 million.
• UPS reported Q1 earnings of $1.07 per share, beating analyst estimates, while revenue came in at $21.2 billion, also slightly above expectations despite a 1.4% year-over-year decline.
• The company announced a quarterly dividend of $1.64 per share, implying an annualized yield of about 6.7%; Wall Street currently has a consensus Hold rating with a price target of $111.87.

First Foundation Advisors lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 176,113 shares of the transportation company's stock after selling 16,442 shares during the quarter. United Parcel Service comprises about 0.7% of First Foundation Advisors' portfolio, making the stock its 29th largest position. First Foundation Advisors' holdings in United Parcel Service were worth $17,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in United Parcel Service by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 68,496,420 shares of the transportation company's stock worth $6,794,160,000 after buying an additional 1,218,432 shares during the period. State Street Corp lifted its stake in United Parcel Service by 0.9% during the 3rd quarter. State Street Corp now owns 31,063,250 shares of the transportation company's stock valued at $2,594,713,000 after acquiring an additional 288,720 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of United Parcel Service by 10.5% in the 3rd quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company's stock valued at $667,109,000 after acquiring an additional 761,217 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of United Parcel Service by 17.3% in the 3rd quarter. Invesco Ltd. now owns 6,724,265 shares of the transportation company's stock valued at $561,678,000 after acquiring an additional 993,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of United Parcel Service by 10.6% in the third quarter. Dimensional Fund Advisors LP now owns 5,072,282 shares of the transportation company's stock worth $423,746,000 after acquiring an additional 486,384 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Price Performance

NYSE:UPS opened at $98.48 on Wednesday. The stock has a 50 day moving average of $101.53 and a two-hundred day moving average of $102.48. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The firm has a market cap of $83.62 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.05. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The firm had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. On average, analysts expect that United Parcel Service, Inc. will post 7.1 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Monday, May 18th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.7%. United Parcel Service's dividend payout ratio is presently 106.15%.

Wall Street Analyst Weigh In

UPS has been the subject of a number of research reports. Stephens boosted their target price on shares of United Parcel Service from $113.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 28th. Truist Financial increased their price target on United Parcel Service from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. HSBC raised United Parcel Service from a "hold" rating to a "buy" rating in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft upped their target price on United Parcel Service from $88.00 to $106.00 and gave the stock a "hold" rating in a research note on Wednesday, January 28th. Finally, Evercore reduced their price target on United Parcel Service from $115.00 to $113.00 and set an "in-line" rating for the company in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, United Parcel Service has a consensus rating of "Hold" and a consensus price target of $111.87.

United Parcel Service Company Profile

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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