Sovereign s Capital Management LLC Takes $1.99 Million Position in United Parcel Service, Inc. (NYSE:UPS)

Sovereign s Capital Management LLC purchased a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,800 shares of the transportation company's stock, valued at approximately $1,992,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in United Parcel Service by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 65,136,394 shares of the transportation company's stock valued at $8,213,699,000 after purchasing an additional 370,705 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in United Parcel Service by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company's stock valued at $2,933,674,000 after purchasing an additional 1,337,058 shares in the last quarter. Geode Capital Management LLC lifted its position in United Parcel Service by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 15,704,334 shares of the transportation company's stock valued at $1,979,695,000 after purchasing an additional 414,710 shares in the last quarter. Franklin Resources Inc. lifted its position in 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 valued at $1,384,567,000 after purchasing an additional 1,484,452 shares in the last quarter. Finally, FMR LLC lifted its position in United Parcel Service by 2.5% during the fourth quarter. FMR LLC now owns 10,895,828 shares of the transportation company's stock valued at $1,373,964,000 after purchasing an additional 268,278 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPS has been the topic of several analyst reports. Robert W. Baird downgraded United Parcel Service from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Truist Financial lowered their target price on United Parcel Service from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their target price on United Parcel Service from $166.00 to $147.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Wolfe Research lowered their price objective on United Parcel Service from $133.00 to $113.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, StockNews.com downgraded United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $120.26.

United Parcel Service Trading Down 1.5%

NYSE UPS traded down $1.50 during trading hours on Tuesday, hitting $97.61. 4,665,670 shares of the company were exchanged, compared to its average volume of 5,109,324. The stock has a 50-day moving average price of $101.68 and a 200 day moving average price of $117.11. 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, Inc. has a 52 week low of $90.55 and a 52 week high of $148.15. The stock has a market cap of $83.38 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, topping 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 in the previous year, the firm posted $1.43 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Monday, May 19th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Monday, May 19th. United Parcel Service's dividend payout ratio is currently 95.63%.

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.