DAVENPORT & Co LLC Sells 53,906 Shares of United Parcel Service, Inc. $UPS

DAVENPORT & Co LLC lowered its position in shares of 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 and 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’s holdings in United Parcel Service were worth $74,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UPS. Clark & Stuart Inc boosted its holdings in United Parcel Service by 39.5% in the 3rd quarter. Clark & Stuart Inc now owns 87,172 shares of the transportation company’s stock valued at $7,281,000 after purchasing an additional 24,694 shares during the period. IFM Investors Pty Ltd raised its position in shares of United Parcel Service by 1.1% in the third quarter. IFM Investors Pty Ltd now owns 136,474 shares of the transportation company’s stock worth $11,426,000 after buying an additional 1,499 shares in the last quarter. Revisor Wealth Management LLC boosted its stake in United Parcel Service by 6.5% during the third quarter. Revisor Wealth Management LLC now owns 4,691 shares of the transportation company’s stock valued at $400,000 after buying an additional 287 shares during the period. Key Client Fiduciary Advisors LLC bought a new stake in United Parcel Service during the third quarter valued at $237,000. Finally, Ridgecrest Wealth Partners LLC grew its position in United Parcel Service by 22.2% during the third quarter. Ridgecrest Wealth Partners LLC now owns 2,757 shares of the transportation company’s stock worth $230,000 after buying an additional 500 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus raised their price target on United Parcel Service from $110.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft cut their price objective on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a report on Thursday, October 2nd. Wall Street Zen raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of United Parcel Service from $85.00 to $97.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Truist Financial boosted their price target on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.09.

United Parcel Service Stock Performance

NYSE:UPS opened at $100.20 on Wednesday. The company has a market capitalization of $85.00 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.40 and a beta of 1.11. The business has a 50 day moving average of $94.64 and a 200 day moving average of $92.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 1.30. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $136.99.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.31 by $0.43. The firm had revenue of $21.42 billion for the quarter, compared to the consensus estimate 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 was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share 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. Investors of record on Monday, November 17th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Monday, November 17th. United Parcel Service’s dividend payout ratio (DPR) is presently 101.39%.

United Parcel Service Company 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.