Boyar Asset Management Inc. Sells 1,479 Shares of United Parcel Service, Inc. (NYSE:UPS)

Boyar Asset Management Inc. trimmed its position in United Parcel Service, Inc. (NYSE:UPS) by 8.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,059 shares of the transportation company’s stock after selling 1,479 shares during the period. United Parcel Service comprises 1.3% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. Boyar Asset Management Inc.’s holdings in United Parcel Service were worth $1,766,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in shares of United Parcel Service during the fourth quarter valued at approximately $25,000. Generali Investments Management Co LLC bought a new position in United Parcel Service in the 4th quarter valued at $26,000. Pinney & Scofield Inc. bought a new position in United Parcel Service in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of United Parcel Service during the 4th quarter valued at $28,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of United Parcel Service during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of United Parcel Service from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Oppenheimer dropped their target price on shares of United Parcel Service from $126.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Wolfe Research reduced their target price on shares of United Parcel Service from $133.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Truist Financial lowered their price target on shares of United Parcel Service from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Barclays dropped their price objective on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating on the stock in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service has an average rating of “Hold” and a consensus price target of $120.26.

United Parcel Service Trading Down 1.1%

Shares of United Parcel Service stock opened at $99.50 on Thursday. The company’s 50-day moving average price is $98.00 and its 200-day moving average price is $111.09. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.24. United Parcel Service, Inc. has a 12-month low of $90.55 and a 12-month high of $148.15. The company has a market cap of $84.26 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.77 and a beta of 1.22.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. United Parcel Service’s revenue was down .9% on a year-over-year basis. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were given a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.59%. United Parcel Service’s dividend payout ratio (DPR) is presently 95.63%.

United Parcel Service Company 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.