Massachusetts Financial Services Co. MA Cuts Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Massachusetts Financial Services Co. MA reduced its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 15.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 628,265 shares of the transportation company's stock after selling 116,321 shares during the period. Massachusetts Financial Services Co. MA owned about 0.07% of United Parcel Service worth $69,103,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in United Parcel Service in the 4th quarter valued at about $1,075,393,000. Franklin Resources Inc. increased its holdings in shares of United Parcel Service by 15.6% during the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock worth $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of United Parcel Service during the fourth quarter worth approximately $145,846,000. Price T Rowe Associates Inc. MD increased its holdings in shares of United Parcel Service by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company's stock worth $815,102,000 after purchasing an additional 1,064,293 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of United Parcel Service by 316.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,122,886 shares of the transportation company's stock worth $141,581,000 after purchasing an additional 853,388 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

Shares of United Parcel Service stock traded down $0.29 on Friday, reaching $99.21. 4,569,313 shares of the company traded hands, compared to its average volume of 5,264,897. United Parcel Service, Inc. has a 52 week low of $90.55 and a 52 week high of $146.17. The company has a 50 day moving average of $99.85 and a 200 day moving average of $108.14. The firm has a market capitalization of $84.01 billion, a PE ratio of 14.46, a PEG ratio of 1.91 and a beta of 1.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly 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. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The company's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.61%. United Parcel Service's dividend payout ratio (DPR) is presently 95.63%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of United Parcel Service from $128.00 to $124.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Wolfe Research cut their price target on shares of United Parcel Service from $133.00 to $113.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Truist Financial cut their price target 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, HSBC downgraded shares of United Parcel Service from a "buy" rating to a "hold" rating and set a $105.00 target price for the company. in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, United Parcel Service has an average rating of "Hold" and a consensus target price of $119.13.

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.