United Parcel Service, Inc. $UPS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 93.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,248 shares of the transportation company’s stock after selling 1,003,239 shares during the period. Assenagon Asset Management S.A.’s holdings in United Parcel Service were worth $6,714,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Shrier Wealth Management LLC acquired a new position in shares of United Parcel Service in the fourth quarter valued at approximately $1,099,000. Victory Capital Management Inc. lifted its stake in shares of United Parcel Service by 10.5% during the third quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company’s stock valued at $667,109,000 after buying an additional 761,217 shares during the period. LFG Wealth Partners LLC acquired a new stake in United Parcel Service during the fourth quarter worth approximately $1,207,000. Bank of New York Mellon Corp boosted its position in United Parcel Service by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,541,742 shares of the transportation company’s stock worth $450,495,000 after acquiring an additional 65,652 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its stake in United Parcel Service by 192.7% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 19,734 shares of the transportation company’s stock worth $1,957,000 after acquiring an additional 12,993 shares during the period. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on UPS shares. Citigroup boosted their price target on United Parcel Service from $118.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 8th. UBS Group lowered their price objective on United Parcel Service from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Susquehanna upped their target price on United Parcel Service from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Evercore reduced their target price on United Parcel Service from $115.00 to $113.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $111.50.

United Parcel Service Stock Performance

Shares of UPS stock opened at $108.22 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $91.99 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.72 and a beta of 1.05. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $122.41. The company has a 50 day moving average price of $104.58 and a 200 day moving average price of $104.94.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the business earned $1.49 EPS. United Parcel Service’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Monday, May 18th were issued a $1.64 dividend. The ex-dividend date was Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a yield of 6.1%. United Parcel Service’s dividend payout ratio (DPR) is presently 106.15%.

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.