United Parcel Service, Inc. $UPS Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in United Parcel Service, Inc. by 64.8%, selling 60,075 shares during the 2nd quarter.
• Several institutional investors have increased their positions in UPS, with CWM LLC growing its holdings by 83.9% in the same period.
• Wall Street analysts have lowered target prices for UPS, with Citigroup setting a new target of $112.00 and several firms rating the stock as "Hold."

Allspring Global Investments Holdings LLC lessened its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 64.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,626 shares of the transportation company's stock after selling 60,075 shares during the period. Allspring Global Investments Holdings LLC's holdings in United Parcel Service were worth $3,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orca Investment Management LLC grew its holdings in United Parcel Service by 21.2% during the 2nd quarter. Orca Investment Management LLC now owns 17,958 shares of the transportation company's stock worth $1,813,000 after acquiring an additional 3,144 shares in the last quarter. CWM LLC grew its holdings in United Parcel Service by 83.9% during the 2nd quarter. CWM LLC now owns 178,243 shares of the transportation company's stock worth $17,992,000 after acquiring an additional 81,317 shares in the last quarter. Advocate Group LLC grew its holdings in United Parcel Service by 5.2% during the 2nd quarter. Advocate Group LLC now owns 84,925 shares of the transportation company's stock worth $8,572,000 after acquiring an additional 4,222 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in United Parcel Service by 42.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 74,443 shares of the transportation company's stock worth $7,516,000 after acquiring an additional 22,298 shares in the last quarter. Finally, Udine Wealth Management Inc. acquired a new position in United Parcel Service during the 2nd quarter worth approximately $2,235,000. Institutional investors and hedge funds own 60.26% of the company's stock.

Wall Street Analyst Weigh In

UPS has been the subject of several research analyst reports. Citigroup lowered their target price on shares of United Parcel Service from $114.00 to $112.00 and set a "buy" rating for the company in a report on Monday, October 13th. Truist Financial lowered their target price 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. Wolfe Research lowered their target price on shares of United Parcel Service from $113.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of United Parcel Service from $100.00 to $88.00 and set a "hold" rating for the company in a report on Thursday, October 2nd. Finally, Morgan Stanley lowered their target price on shares of United Parcel Service from $80.00 to $75.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and a consensus price target of $109.31.

United Parcel Service Stock Up 0.5%

UPS stock opened at $86.88 on Tuesday. The company has a fifty day moving average price of $85.59 and a 200 day moving average price of $93.34. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $145.01. The company has a market cap of $73.64 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The business had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 EPS. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. United Parcel Service's dividend payout ratio is presently 97.62%.

Insiders Place Their Bets

In other news, CEO Carol B. Tome acquired 11,682 shares of the business's stock in a transaction on Friday, August 1st. The stock was bought at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the transaction, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William R. Johnson acquired 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director owned 10,160 shares in the company, valued at $878,840. The trade was a 96.90% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by 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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