GRIMES & Co WEALTH MANAGEMENT LLC Sells 98,735 Shares of United Parcel Service, Inc. $UPS

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC cut its UPS position by 84.1% in the fourth quarter, selling 98,735 shares and leaving it with 18,603 shares worth about $1.845 million.
• UPS reported better-than-expected quarterly earnings of $1.07 per share on revenue of $21.20 billion, though revenue still declined 1.4% year over year.
• The company also announced a quarterly dividend of $1.64 per share, implying a 6.5% yield, while analysts currently have a consensus rating of Hold with an average target price of $111.87.

GRIMES & Co WEALTH MANAGEMENT LLC lowered its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 84.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,603 shares of the transportation company's stock after selling 98,735 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in United Parcel Service were worth $1,845,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Coston McIsaac & Partners raised its position in shares of United Parcel Service by 77.8% during the fourth quarter. Coston McIsaac & Partners now owns 272 shares of the transportation company's stock worth $27,000 after acquiring an additional 119 shares during the last quarter. Torren Management LLC acquired a new position in shares of United Parcel Service during the fourth quarter valued at $29,000. Physician Wealth Advisors Inc. boosted its holdings in United Parcel Service by 76.5% in the third quarter. Physician Wealth Advisors Inc. now owns 376 shares of the transportation company's stock valued at $31,000 after acquiring an additional 163 shares during the last quarter. Avion Wealth boosted its holdings in United Parcel Service by 284.1% in the third quarter. Avion Wealth now owns 434 shares of the transportation company's stock valued at $36,000 after acquiring an additional 321 shares during the last quarter. Finally, Winch Advisory Services LLC increased its position in United Parcel Service by 37.3% in the third quarter. Winch Advisory Services LLC now owns 456 shares of the transportation company's stock worth $38,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on UPS shares. TD Cowen upped their target price on shares of United Parcel Service from $101.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, January 28th. Jefferies Financial Group lifted their price target on shares of United Parcel Service from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Oppenheimer increased their price objective on shares of United Parcel Service from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. UBS Group lowered their target price on shares of United Parcel Service from $125.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Finally, Susquehanna upped their target price on shares of United Parcel Service from $116.00 to $118.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.87.

United Parcel Service Trading Up 0.6%

NYSE:UPS opened at $100.74 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.22. The business's 50-day simple moving average is $102.47 and its 200-day simple moving average is $102.21. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $122.41. The stock has a market capitalization of $85.54 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06.

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

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Monday, May 18th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, May 18th. United Parcel Service's dividend payout ratio (DPR) is presently 106.15%.

About United Parcel Service

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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