DAVENPORT & Co LLC Cuts Position in United Parcel Service, Inc. $UPS

DAVENPORT & Co LLC cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 894,313 shares of the transportation company’s stock after selling 53,906 shares during the period. DAVENPORT & Co LLC owned about 0.11% of United Parcel Service worth $74,926,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in United Parcel Service by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 66,905,138 shares of the transportation company’s stock valued at $6,753,405,000 after purchasing an additional 768,912 shares during the period. State Street Corp boosted its holdings in shares of United Parcel Service by 1.5% in the 2nd quarter. State Street Corp now owns 30,774,530 shares of the transportation company’s stock worth $3,106,381,000 after buying an additional 444,384 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of United Parcel Service by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 25,792,139 shares of the transportation company’s stock worth $2,603,459,000 after buying an additional 746,667 shares during the last quarter. Geode Capital Management LLC grew its position in United Parcel Service by 4.8% during the second quarter. Geode Capital Management LLC now owns 16,623,834 shares of the transportation company’s stock valued at $1,675,733,000 after buying an additional 762,407 shares during the period. Finally, Norges Bank purchased a new stake in United Parcel Service during the second quarter worth about $851,842,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Down 0.5%

UPS opened at $100.20 on Wednesday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99. The company has a market cap of $85.00 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $94.64 and a 200 day moving average of $92.80.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.43. The business had revenue of $21.42 billion for the quarter, compared to analysts’ expectations of $20.94 billion. United Parcel Service had a net margin of 6.15% and a return on equity of 40.07%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 EPS. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $6.56 dividend on an annualized basis and a yield of 6.5%. United Parcel Service’s dividend payout ratio is 101.39%.

Analyst Ratings Changes

UPS has been the topic of several research reports. Truist Financial lifted their price objective on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Stephens upgraded shares of United Parcel Service to a “hold” rating in a research note on Wednesday, October 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $96.00 price objective (down previously from $125.00) on shares of United Parcel Service in a research note on Friday, September 19th. Wells Fargo & Company increased their price objective on United Parcel Service from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of United Parcel Service in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, United Parcel Service currently has an average rating of “Hold” and an average target price of $110.09.

United Parcel Service Profile

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.