Truist Financial Corp Sells 83,245 Shares of United Parcel Service, Inc. (NYSE:UPS)

Truist Financial Corp decreased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 435,866 shares of the transportation company's stock after selling 83,245 shares during the period. Truist Financial Corp owned about 0.05% of United Parcel Service worth $47,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of United Parcel Service by 63.8% during the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock worth $1,529,000 after buying an additional 4,723 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of United Parcel Service during the fourth quarter worth approximately $219,000. E Fund Management Co. Ltd. acquired a new stake in shares of United Parcel Service during the fourth quarter worth approximately $228,000. Callan Family Office LLC increased its holdings in shares of United Parcel Service by 351.1% during the fourth quarter. Callan Family Office LLC now owns 8,363 shares of the transportation company's stock worth $1,055,000 after buying an additional 6,509 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of United Parcel Service by 42.9% during the fourth quarter. Edgestream Partners L.P. now owns 26,626 shares of the transportation company's stock worth $3,358,000 after buying an additional 7,988 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UPS. Wells Fargo & Company reissued an "equal weight" rating and issued a $98.00 price target (down previously from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Oppenheimer lowered their price target on shares of United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their price target on shares of United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Hsbc Global Res lowered shares of United Parcel Service from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service has an average rating of "Hold" and a consensus target price of $119.29.

United Parcel Service Stock Performance

Shares of United Parcel Service stock traded down $3.19 during trading on Monday, hitting $100.94. 5,297,394 shares of the stock were exchanged, compared to its average volume of 5,228,043. The stock has a market capitalization of $85.48 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21. The company has a fifty day moving average price of $98.83 and a 200-day moving average price of $109.66. United Parcel Service, Inc. has a 1-year low of $90.55 and a 1-year high of $148.15. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24.

United Parcel Service (NYSE:UPS - Get Free Report) last released 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. The company 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%. United Parcel Service's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. As a group, equities analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were paid a dividend of $1.64 per share. The ex-dividend date was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.50%. United Parcel Service's dividend payout ratio is presently 95.63%.

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.