Northeast Investment Management Lowers Holdings in United Parcel Service, Inc. (NYSE:UPS)

Northeast Investment Management decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 55.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,606 shares of the transportation company’s stock after selling 15,868 shares during the quarter. Northeast Investment Management’s holdings in United Parcel Service were worth $1,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UPS. Norges Bank purchased a new stake in shares of United Parcel Service during the 4th quarter worth about $1,075,393,000. Raymond James Financial Inc. purchased a new stake in shares of United Parcel Service during the 4th quarter worth about $393,680,000. Franklin Resources Inc. grew its holdings in shares of United Parcel Service by 15.6% during the 4th quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock worth $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. Van ECK Associates Corp grew its holdings in shares of United Parcel Service by 77.7% during the 4th quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock worth $397,329,000 after purchasing an additional 1,378,136 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of United Parcel Service by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock worth $2,933,674,000 after purchasing an additional 1,337,058 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

UPS stock opened at $102.43 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The firm has a market cap of $86.73 billion, a P/E ratio of 15.15, a P/E/G ratio of 1.55 and a beta of 1.22. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15. The stock’s 50 day simple moving average is $97.15 and its 200 day simple moving average is $113.42.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.11. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. As a group, equities research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Monday, May 19th. United Parcel Service’s dividend payout ratio is currently 95.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Susquehanna decreased their target price on United Parcel Service from $120.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. BMO Capital Markets reduced their price target on United Parcel Service from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Truist Financial reduced their price target on United Parcel Service from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Barclays reduced their price target on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating on the stock in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $120.26.

About United Parcel Service

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.