California Public Employees Retirement System Sells 132,535 Shares of United Parcel Service, Inc. $UPS

California Public Employees Retirement System lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 7.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,665,932 shares of the transportation company’s stock after selling 132,535 shares during the quarter. California Public Employees Retirement System’s holdings in United Parcel Service were worth $168,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Andra AP fonden increased its position in shares of United Parcel Service by 95.9% during the second quarter. Andra AP fonden now owns 332,983 shares of the transportation company’s stock worth $33,611,000 after buying an additional 163,000 shares during the period. Avantax Advisory Services Inc. lifted its holdings in United Parcel Service by 14.6% in the second quarter. Avantax Advisory Services Inc. now owns 94,361 shares of the transportation company’s stock valued at $9,525,000 after buying an additional 12,035 shares during the period. Equity Investment Corp boosted its position in United Parcel Service by 16.8% during the second quarter. Equity Investment Corp now owns 1,130,550 shares of the transportation company’s stock valued at $114,118,000 after acquiring an additional 162,364 shares during the last quarter. Cowa LLC grew its holdings in United Parcel Service by 329.2% during the 2nd quarter. Cowa LLC now owns 8,785 shares of the transportation company’s stock worth $887,000 after acquiring an additional 6,738 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of United Parcel Service by 2.0% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 182,836 shares of the transportation company’s stock worth $18,455,000 after acquiring an additional 3,516 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on UPS shares. Bank of America cut their target price on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating on the stock in a research report on Friday, September 26th. Truist Financial boosted their price target on United Parcel Service from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of United Parcel Service in a research report on Wednesday, October 8th. UBS Group boosted their target price on shares of United Parcel Service from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Stephens raised shares of United Parcel Service to a “hold” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $110.00.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $94.88 on Monday. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $136.99. The stock’s 50 day moving average is $91.02 and its 200-day moving average is $92.57. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $80.50 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.27 and a beta of 1.11.

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

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 17th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $6.56 annualized dividend and a dividend yield of 6.9%. United Parcel Service’s payout ratio is presently 101.39%.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.