United Parcel Service, Inc. $UPS Shares Sold by Manchester Capital Management LLC

Key Points

• Manchester Capital Management cut its UPS stake by 10.6% in the fourth quarter, selling 40,422 shares and leaving it with 341,236 shares valued at about $33.85 million.
• UPS reported better-than-expected quarterly earnings of $1.07 per share on revenue of $21.2 billion, though revenue still fell 1.4% from a year earlier.
• The company pays a 6.0% annualized dividend of $6.56 per share, and Wall Street’s consensus rating remains Hold with an average price target of $111.50.

Manchester Capital Management LLC trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,236 shares of the transportation company's stock after selling 40,422 shares during the period. United Parcel Service accounts for about 4.6% of Manchester Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Manchester Capital Management LLC's holdings in United Parcel Service were worth $33,847,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Westbourne Investments Inc. increased its stake in shares of United Parcel Service by 1.2% during the fourth quarter. Westbourne Investments Inc. now owns 7,876 shares of the transportation company's stock worth $781,000 after purchasing an additional 91 shares during the period. Ipsen Advisor Group LLC increased its stake in shares of United Parcel Service by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,670 shares of the transportation company's stock worth $562,000 after purchasing an additional 95 shares during the period. Webster Bank N. A. increased its stake in shares of United Parcel Service by 16.7% during the fourth quarter. Webster Bank N. A. now owns 698 shares of the transportation company's stock worth $69,000 after purchasing an additional 100 shares during the period. Peoples Financial Services CORP. increased its stake in shares of United Parcel Service by 2.5% during the fourth quarter. Peoples Financial Services CORP. now owns 4,030 shares of the transportation company's stock worth $400,000 after purchasing an additional 100 shares during the period. Finally, Argyle Capital Management LLC increased its stake in shares of United Parcel Service by 0.4% during the fourth quarter. Argyle Capital Management LLC now owns 27,505 shares of the transportation company's stock worth $2,728,000 after purchasing an additional 100 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Price Performance

United Parcel Service stock opened at $108.65 on Monday. The stock's fifty day moving average price is $102.18 and its two-hundred day moving average price is $103.63. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $122.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $92.35 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.05. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The firm had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the company earned $1.49 EPS. The company's revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that United Parcel Service, Inc. will post 7.1 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Monday, May 18th. United Parcel Service's dividend payout ratio (DPR) is 106.15%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on United Parcel Service from $125.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Susquehanna increased their target price on United Parcel Service from $116.00 to $118.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Weiss Ratings lowered United Parcel Service from a "hold (c)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Evercore lowered their target price on United Parcel Service from $115.00 to $113.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 22nd. Finally, Citigroup increased their target price on United Parcel Service from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.50.

About United Parcel Service

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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