State of New Jersey Common Pension Fund D Decreases Holdings in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in United Parcel Service, Inc. by 8.5%, now owning 246,239 shares valued at approximately $27 million.
• UPS recently reported a quarterly earnings miss and a revenue decrease of 2.7% year-over-year, with earnings per share at $1.55 against the estimate of $1.56.
• The company announced a quarterly dividend of $1.64, which yields 7.4%, but with a high dividend payout ratio of 97.62%.

State of New Jersey Common Pension Fund D decreased its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,239 shares of the transportation company's stock after selling 22,780 shares during the period. State of New Jersey Common Pension Fund D's holdings in United Parcel Service were worth $27,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UPS. Colonial Trust Co SC raised its holdings in shares of United Parcel Service by 1.4% in the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock worth $911,000 after buying an additional 98 shares during the last quarter. Juncture Wealth Strategies LLC raised its holdings in shares of United Parcel Service by 2.5% in the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock worth $454,000 after buying an additional 101 shares during the last quarter. TCV Trust & Wealth Management Inc. raised its holdings in shares of United Parcel Service by 1.4% in the first quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock worth $830,000 after buying an additional 103 shares during the last quarter. Diligent Investors LLC raised its holdings in shares of United Parcel Service by 1.7% in the fourth quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock worth $848,000 after buying an additional 111 shares during the last quarter. Finally, Lodestone Wealth Management LLC raised its holdings in shares of United Parcel Service by 6.2% in the first quarter. Lodestone Wealth Management LLC now owns 1,895 shares of the transportation company's stock worth $208,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Down 0.0%

Shares of NYSE UPS opened at $88.52 on Friday. The company's 50-day simple moving average is $97.24 and its 200-day simple moving average is $103.03. United Parcel Service, Inc. has a 52-week low of $84.28 and a 52-week high of $145.01. The firm has a market cap of $74.96 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. During the same quarter last year, the business earned $1.79 EPS. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a $1.64 dividend. The ex-dividend date is Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.4%. United Parcel Service's dividend payout ratio (DPR) is 97.62%.

Wall Street Analyst Weigh In

UPS has been the subject of a number of research analyst reports. Truist Financial decreased their price target on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Evercore ISI decreased their price target on shares of United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Stifel Canada decreased their price target on shares of United Parcel Service from $145.00 to $124.00 in a report on Wednesday, April 30th. BNP Paribas raised shares of United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Finally, UBS Group reduced their target price on shares of United Parcel Service from $124.00 to $118.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $112.81.

Insider Activity

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Carol B. Tome purchased 11,682 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the purchase, the chief executive officer owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.

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.

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