Envestnet Asset Management Inc. cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 33.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,835 shares of the transportation company’s stock after selling 45,476 shares during the period. Envestnet Asset Management Inc.’s holdings in United Parcel Service were worth $9,656,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in UPS. Boston Partners purchased a new position in shares of United Parcel Service during the 1st quarter worth about $75,929,000. American Century Companies Inc. lifted its holdings in United Parcel Service by 54.3% during the 1st quarter. American Century Companies Inc. now owns 1,962,565 shares of the transportation company’s stock valued at $205,402,000 after buying an additional 690,451 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in United Parcel Service by 18.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,188,137 shares of the transportation company’s stock valued at $438,331,000 after buying an additional 652,699 shares in the last quarter. Renaissance Technologies LLC bought a new stake in United Parcel Service during the 4th quarter valued at about $76,351,000. Finally, Bank of New York Mellon Corp lifted its holdings in United Parcel Service by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 6,087,376 shares of the transportation company’s stock valued at $725,311,000 after buying an additional 577,544 shares in the last quarter. 53.49% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:UPS traded down $0.14 during trading hours on Thursday, hitting $117.19. The company’s stock had a trading volume of 1,862,479 shares, compared to its average volume of 4,167,121. United Parcel Service, Inc. has a 52 week low of $101.45 and a 52 week high of $135.53. The company has a debt-to-equity ratio of 14.84, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $100.69 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.75 and a beta of 1.03.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 6th. Investors of record on Monday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, May 18th. This represents a $3.64 annualized dividend and a dividend yield of 3.11%. United Parcel Service’s dividend payout ratio (DPR) is presently 60.57%.
UPS has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of United Parcel Service from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Loop Capital lifted their price objective on shares of United Parcel Service from $131.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, March 7th. Deutsche Bank lowered shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $115.00 price objective for the company. in a report on Thursday, February 22nd. Bank of America upgraded shares of United Parcel Service from a “neutral” rating to a “buy” rating in a report on Monday, May 14th. Finally, BMO Capital Markets decreased their price objective on shares of United Parcel Service to $121.00 and set a “market perform” rating for the company in a report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $124.47.
In related news, SVP Norman M. Brothers, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $113.42, for a total transaction of $170,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
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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