Allspring Global Investments Holdings LLC Buys 5,403 Shares of United Parcel Service, Inc. $UPS

Allspring Global Investments Holdings LLC boosted its stake in United Parcel Service, Inc. (NYSE:UPS) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,180 shares of the transportation company’s stock after purchasing an additional 5,403 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Parcel Service were worth $3,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UPS. Potomac Fund Management Inc. ADV increased its holdings in shares of United Parcel Service by 0.8% in the 4th quarter. Potomac Fund Management Inc. ADV now owns 11,324 shares of the transportation company’s stock worth $1,123,000 after buying an additional 90 shares during the last quarter. Westbourne Investments Inc. increased its position in shares of United Parcel Service by 1.2% during the 4th quarter. Westbourne Investments Inc. now owns 7,876 shares of the transportation company’s stock valued at $781,000 after purchasing an additional 91 shares during the last quarter. Ipsen Advisor Group LLC increased its position in shares of United Parcel Service by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,670 shares of the transportation company’s stock valued at $562,000 after purchasing an additional 95 shares during the last quarter. Webster Bank N. A. raised its holdings in United Parcel Service by 16.7% during the 4th quarter. Webster Bank N. A. now owns 698 shares of the transportation company’s stock valued at $69,000 after buying an additional 100 shares during the period. Finally, Peoples Financial Services CORP. lifted its position in United Parcel Service by 2.5% in the fourth quarter. Peoples Financial Services CORP. now owns 4,030 shares of the transportation company’s stock worth $400,000 after buying an additional 100 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UPS. Weiss Ratings upgraded shares of United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Wall Street Zen upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Susquehanna upped their price target on shares of United Parcel Service from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Stephens upgraded shares of United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Evercore decreased their price objective on shares of United Parcel Service from $115.00 to $113.00 and set an “in-line” rating for the company in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, United Parcel Service has a consensus rating of “Hold” and a consensus target price of $111.50.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $114.60 on Friday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s 50 day simple moving average is $108.28 and its 200-day simple moving average is $106.62. The stock has a market capitalization of $97.41 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.82 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.99 billion. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. Analysts expect that United Parcel Service, Inc. will post 7.1 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a yield of 5.7%. United Parcel Service’s payout ratio is 106.15%.

About United Parcel Service

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.