Verity Asset Management Inc. cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,170 shares of the transportation company’s stock after selling 1,182 shares during the period. Verity Asset Management Inc.’s holdings in United Parcel Service were worth $212,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. MML Investors Services LLC raised its position in United Parcel Service by 42.2% during the 3rd quarter. MML Investors Services LLC now owns 68,427 shares of the transportation company’s stock valued at $7,989,000 after purchasing an additional 20,301 shares in the last quarter. Bollard Group LLC raised its position in United Parcel Service by 9.0% during the 3rd quarter. Bollard Group LLC now owns 6,000 shares of the transportation company’s stock valued at $701,000 after purchasing an additional 494 shares in the last quarter. South State Corp raised its position in United Parcel Service by 6.2% during the 3rd quarter. South State Corp now owns 49,478 shares of the transportation company’s stock valued at $5,777,000 after purchasing an additional 2,876 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in United Parcel Service by 93.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 8,623 shares of the transportation company’s stock valued at $1,007,000 after purchasing an additional 4,167 shares in the last quarter. Finally, Bernicke Wealth Management Ltd. raised its position in United Parcel Service by 9.5% during the 3rd quarter. Bernicke Wealth Management Ltd. now owns 6,636 shares of the transportation company’s stock valued at $775,000 after purchasing an additional 574 shares in the last quarter. 55.02% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:UPS opened at $109.52 on Friday. United Parcel Service, Inc. has a 12-month low of $89.89 and a 12-month high of $125.09. The firm has a market capitalization of $94.21 billion, a PE ratio of 15.13, a P/E/G ratio of 1.63 and a beta of 1.21. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 6.56.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 26th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.51%. This is an increase from United Parcel Service’s previous quarterly dividend of $0.91. The ex-dividend date was Monday, February 25th. United Parcel Service’s payout ratio is 53.04%.
A number of brokerages have weighed in on UPS. Morgan Stanley decreased their target price on United Parcel Service from $92.00 to $87.00 and set a “sell” rating for the company in a research report on Tuesday, December 4th. Berenberg Bank reiterated a “hold” rating and issued a $125.00 price target on shares of United Parcel Service in a report on Friday. Credit Suisse Group reiterated a “neutral” rating and issued a $114.00 price target on shares of United Parcel Service in a report on Wednesday, March 6th. Standpoint Research downgraded United Parcel Service from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Zacks Investment Research downgraded United Parcel Service from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $123.41.
In related news, SVP Teri P. Mcclure sold 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $109.72, for a total transaction of $548,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard N. Peretz sold 9,112 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $111.18, for a total value of $1,013,072.16. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.
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United Parcel Service Company Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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