Griffin Asset Management Inc. Sells 23,863 Shares of United Parcel Service, Inc. (NYSE:UPS)

Griffin Asset Management Inc. reduced its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,549 shares of the transportation company's stock after selling 23,863 shares during the period. Griffin Asset Management Inc.'s holdings in United Parcel Service were worth $2,810,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UPS. Allspring Global Investments Holdings LLC grew its position in shares of United Parcel Service by 27.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company's stock worth $16,304,000 after purchasing an additional 28,108 shares in the last quarter. PUREfi Wealth LLC acquired a new position in United Parcel Service in the 4th quarter worth about $737,000. Clark Capital Management Group Inc. increased its position in United Parcel Service by 14.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 11,427 shares of the transportation company's stock valued at $1,441,000 after acquiring an additional 1,440 shares during the period. CapWealth Advisors LLC lifted its holdings in shares of United Parcel Service by 4.1% during the fourth quarter. CapWealth Advisors LLC now owns 83,874 shares of the transportation company's stock worth $10,577,000 after purchasing an additional 3,312 shares during the period. Finally, LaFleur & Godfrey LLC lifted its holdings in shares of United Parcel Service by 62.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 6,225 shares of the transportation company's stock worth $785,000 after purchasing an additional 2,401 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

United Parcel Service Stock Down 1.0%

Shares of NYSE UPS traded down $1.03 during trading on Friday, reaching $99.89. The company had a trading volume of 4,237,986 shares, compared to its average volume of 5,181,579. 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 $84.58 billion, a PE ratio of 14.78, a P/E/G ratio of 1.55 and a beta of 1.22. The business's 50-day moving average is $97.49 and its 200 day moving average is $112.68. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data 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 39.13% and a net margin of 6.35%. The company had revenue of $21.50 billion for the quarter, compared to analysts' expectations of $21.25 billion. During the same period last year, the firm posted $1.43 earnings per share. United Parcel Service's revenue was down .9% compared to the same quarter last year. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were given a dividend of $1.64 per share. The ex-dividend date was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.57%. United Parcel Service's dividend payout ratio (DPR) is presently 95.63%.

Analysts Set New Price Targets

A number of analysts have weighed in on UPS shares. Wall Street Zen downgraded shares of United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Galvan Research lowered their target price on United Parcel Service from $147.00 to $133.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Citigroup cut their price target on 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. UBS Group cut their price target on United Parcel Service from $141.00 to $127.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Bank of America lifted their target price on United Parcel Service from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service has a consensus rating of "Hold" and a consensus target price of $120.26.

United Parcel Service Company 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.