Voloridge Investment Management LLC Sells 598,663 Shares of United Parcel Service, Inc. (NYSE:UPS)

Voloridge Investment Management LLC reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 79.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,592 shares of the transportation company's stock after selling 598,663 shares during the quarter. Voloridge Investment Management LLC's holdings in United Parcel Service were worth $20,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC bought a new stake in United Parcel Service in the 4th quarter valued at $461,000. Allspring Global Investments Holdings LLC boosted its stake in 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 valued at $16,304,000 after purchasing an additional 28,108 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its stake in United Parcel Service by 42.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 34,113 shares of the transportation company's stock valued at $4,302,000 after purchasing an additional 10,176 shares during the period. PUREfi Wealth LLC bought a new stake in United Parcel Service in the 4th quarter valued at $737,000. Finally, TFG Advisers LLC boosted its stake in United Parcel Service by 5.1% in the 4th quarter. TFG Advisers LLC now owns 7,800 shares of the transportation company's stock valued at $984,000 after purchasing an additional 375 shares during the period. 60.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UPS has been the subject of several recent research reports. Oppenheimer reduced their price target on United Parcel Service from $126.00 to $114.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. HSBC downgraded United Parcel Service from a "buy" rating to a "hold" rating and set a $105.00 price target for the company. in a research note on Thursday, May 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $98.00 price objective (down from $120.00) on shares of United Parcel Service in a report on Tuesday, April 22nd. Truist Financial dropped their price objective on United Parcel Service from $140.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on United Parcel Service from $166.00 to $147.00 and set a "buy" rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $120.26.

United Parcel Service Price Performance

United Parcel Service stock opened at $96.91 on Friday. The stock has a market capitalization of $82.06 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. United Parcel Service, Inc. has a 52 week low of $90.55 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The stock has a fifty day moving average of $100.84 and a 200-day moving average of $116.72.

United Parcel Service (NYSE:UPS - Get Free Report) last issued 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. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. United Parcel Service's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Monday, May 19th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 6.77%. United Parcel Service's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.