Benin Management CORP Sells 6,938 Shares of United Parcel Service, Inc. $UPS

Benin Management CORP lowered its position in shares of United Parcel Service, Inc. (NYSE:UPSFree Report) by 22.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,197 shares of the transportation company’s stock after selling 6,938 shares during the period. United Parcel Service accounts for about 0.5% of Benin Management CORP’s holdings, making the stock its 27th biggest position. Benin Management CORP’s holdings in United Parcel Service were worth $2,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in United Parcel Service by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 67,277,988 shares of the transportation company’s stock valued at $5,619,730,000 after purchasing an additional 372,850 shares during the period. State Street Corp boosted its stake in United Parcel Service by 0.9% during the third quarter. State Street Corp now owns 31,063,250 shares of the transportation company’s stock valued at $2,594,713,000 after buying an additional 288,720 shares during the period. Norges Bank purchased a new position in United Parcel Service during the second quarter worth about $851,842,000. Victory Capital Management Inc. increased its stake in United Parcel Service by 10.5% in the 3rd quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company’s stock worth $667,109,000 after acquiring an additional 761,217 shares during the last quarter. Finally, Invesco Ltd. increased its stake in United Parcel Service by 17.3% in the 3rd quarter. Invesco Ltd. now owns 6,724,265 shares of the transportation company’s stock worth $561,678,000 after acquiring an additional 993,461 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Price Performance

UPS opened at $98.38 on Thursday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $108.64 and its 200 day simple moving average is $98.57. The firm has a market cap of $83.54 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.55 and a beta of 1.08. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $122.41.

United Parcel Service (NYSE:UPSGet Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The transportation company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.18. The firm had revenue of $24.48 billion during the quarter, compared to the consensus estimate of $23.91 billion. United Parcel Service had a return on equity of 38.30% and a net margin of 6.28%.The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 earnings per share. As a group, analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, February 17th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Tuesday, February 17th. United Parcel Service’s dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UPS shares. Citigroup dropped their price target on United Parcel Service from $126.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Wells Fargo & Company upped their price objective on shares of United Parcel Service from $96.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Truist Financial raised their target price on shares of United Parcel Service from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Susquehanna lifted their target price on shares of United Parcel Service from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings raised shares of United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, United Parcel Service presently has an average rating of “Hold” and a consensus price target of $113.67.

Check Out Our Latest Report on United Parcel Service

Insiders Place Their Bets

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 25,014 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $106.15, for a total value of $2,655,236.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is owned by insiders.

United Parcel Service News Summary

Here are the key news stories impacting United Parcel Service this week:

United Parcel Service Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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