Price T Rowe Associates Inc. MD Sells 24,642 Shares of United Parcel Service, Inc. $UPS

Key Points

• Price T Rowe Associates Inc. sold 24,642 shares of United Parcel Service, reducing its stake by 0.4% in the first quarter, now owning approximately 0.75% of the company valued at $708.3 million.
• Goldman Sachs Group Inc. increased its position by 124%, acquiring an additional 4.99 million shares, bringing its total ownership to about $991.1 million.
• United Parcel Service's quarterly earnings report showed a slight miss with an EPS of $1.55 against a forecast of $1.56, and a revenue decline of 2.7% year-over-year.

Price T Rowe Associates Inc. MD reduced its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,439,288 shares of the transportation company's stock after selling 24,642 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.75% of United Parcel Service worth $708,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of UPS. Graybill Wealth Management LTD. bought a new stake in shares of United Parcel Service in the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new stake in shares of United Parcel Service in the 4th quarter valued at approximately $27,000. Citizens National Bank Trust Department grew its stake in shares of United Parcel Service by 525.0% in the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after purchasing an additional 210 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of United Parcel Service in the 4th quarter valued at approximately $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of United Parcel Service in the 4th quarter valued at approximately $31,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Trading Up 3.0%

Shares of UPS stock traded up $2.5640 during trading hours on Friday, reaching $88.7140. The company had a trading volume of 10,224,234 shares, compared to its average volume of 10,494,927. The company has a 50 day moving average of $95.89 and a 200 day moving average of $101.93. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $75.19 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.63 and a beta of 1.12. United Parcel Service, Inc. has a 1-year low of $84.28 and a 1-year high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The company had revenue of $21.20 billion during the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.79 EPS. On average, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 dividend on an annualized basis and a dividend yield of 7.4%. United Parcel Service's dividend payout ratio is currently 97.62%.

Insiders Place Their Bets

In other news, CEO Carol B. Tome acquired 11,682 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was acquired 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 directly owned 24,718 shares in the company, valued at approximately $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 available at this link. Also, Director William R. Johnson acquired 5,000 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was 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. This represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bernstein Bank upped their price objective on United Parcel Service from $132.00 to $133.00 in a research note on Wednesday, April 30th. Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. BMO Capital Markets reduced their target price on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Wolfe Research reduced their target price on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, Truist Financial reduced their target price on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $112.81.

United Parcel Service 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.