Steel Grove Capital Advisors LLC Acquires 11,870 Shares of United Parcel Service, Inc. (NYSE:UPS)

Steel Grove Capital Advisors LLC lifted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 454.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,480 shares of the transportation company's stock after acquiring an additional 11,870 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in United Parcel Service were worth $1,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in United Parcel Service in the 4th quarter worth $25,000. Generali Investments Management Co LLC purchased a new position in shares of United Parcel Service during the fourth quarter valued at about $26,000. Pinney & Scofield Inc. bought a new position in United Parcel Service in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in United Parcel Service in the fourth quarter worth about $28,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in United Parcel Service in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Down 0.6%

Shares of UPS stock opened at $99.12 on Thursday. 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, Inc. has a one year low of $90.55 and a one year high of $148.15. The company's fifty day moving average price is $97.67 and its 200-day moving average price is $112.10. The company has a market capitalization of $83.93 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.75 and a beta of 1.22.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business had revenue of $21.50 billion for the quarter, compared to analysts' expectations of $21.25 billion. During the same period last year, the firm earned $1.43 earnings per share. The business's quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 6.62%. United Parcel Service's dividend payout ratio is presently 95.63%.

Analyst Ratings Changes

A number of research firms have weighed in on UPS. Barclays reduced their target price on United Parcel Service from $100.00 to $90.00 and set an "underweight" rating on the stock in a report on Monday, March 31st. Wall Street Zen cut United Parcel Service from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Oppenheimer lowered their price objective on United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wolfe Research reduced their target price on shares of 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, Truist Financial decreased their price target on shares of United Parcel Service from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two equities research 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 presently has an average rating of "Hold" and a consensus target price of $120.26.

About United Parcel Service

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.

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.