Haverford Trust Co Lowers Position in United Parcel Service, Inc. $UPS

Key Points

• Haverford Trust Co significantly reduced its holdings in United Parcel Service, Inc. by 69.9%, selling 393,042 shares, leaving them with 169,616 shares valued at $18.6 million.
• Recent analyst ratings have been mixed, with price targets being lowered by multiple firms, resulting in a consensus target price for UPS shares at $112.81.
• UPS announced a quarterly dividend of $1.64 set to be paid on September 4th, representing a 7.4% dividend yield, despite a high dividend payout ratio of 97.62%.

Haverford Trust Co trimmed its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 69.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,616 shares of the transportation company's stock after selling 393,042 shares during the period. Haverford Trust Co's holdings in United Parcel Service were worth $18,656,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UPS. Colonial Trust Co SC grew its holdings in shares of United Parcel Service by 1.4% during the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock worth $911,000 after purchasing an additional 98 shares during the last quarter. Juncture Wealth Strategies LLC grew its holdings in shares of United Parcel Service by 2.5% during 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 during the last quarter. TCV Trust & Wealth Management Inc. grew its holdings in shares of United Parcel Service by 1.4% during the first quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock worth $830,000 after purchasing an additional 103 shares during the last quarter. Diligent Investors LLC grew its holdings in shares of United Parcel Service by 1.7% during the fourth quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock worth $848,000 after purchasing an additional 111 shares during the last quarter. Finally, Lodestone Wealth Management LLC grew its holdings in shares of United Parcel Service by 6.2% during the first quarter. Lodestone Wealth Management LLC now owns 1,895 shares of the transportation company's stock worth $208,000 after purchasing an additional 111 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on UPS shares. Loop Capital reduced their price target on United Parcel Service from $115.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. BNP Paribas upgraded United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Wolfe Research reduced their target price on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Truist Financial reduced their target price on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Finally, Hsbc Global Res cut United Parcel Service from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $112.81.

Insiders Place Their Bets

In related news, Director William R. Johnson purchased 5,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director owned 10,160 shares of the company's stock, valued at $878,840. This represents a 96.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carol B. Tome purchased 11,682 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the transaction, the chief executive officer directly owned 24,718 shares in the company, valued at $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.13% of the company's stock.

United Parcel Service Trading Up 3.0%

Shares of United Parcel Service stock traded up $2.5640 on Friday, reaching $88.7140. 10,224,234 shares of the company's stock were exchanged, compared to its average volume of 10,494,927. The company has a market capitalization of $75.19 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01. The firm's 50-day moving average is $95.89 and its two-hundred day moving average is $101.85. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter in the previous year, the company posted $1.79 earnings per share. United Parcel Service's quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's dividend payout ratio is presently 97.62%.

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.