Verity & Verity LLC Lowers Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Verity & Verity LLC lessened its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 25.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 123,191 shares of the transportation company's stock after selling 42,502 shares during the period. Verity & Verity LLC's holdings in United Parcel Service were worth $13,550,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of United Parcel Service by 27.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company's stock worth $16,304,000 after purchasing an additional 28,108 shares during the period. PUREfi Wealth LLC bought a new position in shares of United Parcel Service during the 4th quarter worth approximately $737,000. Clark Capital Management Group Inc. lifted its position in United Parcel Service by 14.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 11,427 shares of the transportation company's stock valued at $1,441,000 after acquiring an additional 1,440 shares during the last quarter. CapWealth Advisors LLC lifted its position in United Parcel Service by 4.1% during the fourth quarter. CapWealth Advisors LLC now owns 83,874 shares of the transportation company's stock valued at $10,577,000 after acquiring an additional 3,312 shares during the last quarter. Finally, LaFleur & Godfrey LLC lifted its position in United Parcel Service by 62.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 6,225 shares of the transportation company's stock valued at $785,000 after acquiring an additional 2,401 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America increased their target price on shares of United Parcel Service from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group decreased their target price on shares of United Parcel Service from $141.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of United Parcel Service in a research report on Friday, March 7th. They set a "hold" rating and a $119.00 target price for the company. Wells Fargo & Company reissued an "equal weight" rating and set a $98.00 target price (down previously from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. Finally, Wolfe Research cut their price target on shares of United Parcel Service from $133.00 to $113.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $120.26.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded down $1.03 during midday trading on Friday, reaching $99.89. The company's stock had a trading volume of 4,237,986 shares, compared to its average volume of 5,176,046. The firm has a market capitalization of $84.58 billion, a PE ratio of 14.78, a P/E/G ratio of 1.55 and a beta of 1.22. United Parcel Service, Inc. has a twelve month low of $90.55 and a twelve month high of $148.15. The stock has a fifty day moving average of $97.33 and a 200 day moving average of $113.08. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

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 analysts' consensus estimates of $1.38 by $0.11. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Monday, May 19th. United Parcel Service's dividend payout ratio (DPR) is presently 95.63%.

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.