Concord Wealth Partners Decreases Holdings in United Parcel Service, Inc. (NYSE:UPS)

Concord Wealth Partners decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,038 shares of the transportation company’s stock after selling 436 shares during the period. Concord Wealth Partners’ holdings in United Parcel Service were worth $114,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UPS. Burns Matteson Capital Management LLC lifted its position in shares of United Parcel Service by 8.2% during the first quarter. Burns Matteson Capital Management LLC now owns 2,812 shares of the transportation company’s stock worth $309,000 after purchasing an additional 213 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of United Parcel Service by 28.8% in the 1st quarter. Verdence Capital Advisors LLC now owns 54,554 shares of the transportation company’s stock valued at $6,000,000 after purchasing an additional 12,191 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in United Parcel Service by 6.8% during the 1st quarter. Mayflower Financial Advisors LLC now owns 5,748 shares of the transportation company’s stock worth $632,000 after purchasing an additional 365 shares during the period. Legacy Capital Wealth Partners LLC increased its holdings in shares of United Parcel Service by 71.0% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 7,776 shares of the transportation company’s stock valued at $855,000 after acquiring an additional 3,229 shares during the last quarter. Finally, Summit X LLC lifted its position in United Parcel Service by 93.5% during the 1st quarter. Summit X LLC now owns 19,677 shares of the transportation company’s stock worth $2,164,000 after acquiring an additional 9,509 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays reduced 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. Hsbc Global Res lowered United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Wall Street Zen downgraded United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Susquehanna dropped their target price on shares of United Parcel Service from $120.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Galvan Research reduced their price target on United Parcel Service from $147.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service has a consensus rating of “Hold” and an average target price of $119.13.

United Parcel Service Trading Down 0.1%

UPS stock opened at $99.49 on Friday. United Parcel Service, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $84.25 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.92 and a beta of 1.21. The business has a fifty day moving average price of $99.79 and a 200 day moving average price of $108.33.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $21.25 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that United Parcel Service, Inc. will post 7.95 EPS 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. Shareholders of record on Monday, May 19th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date was Monday, May 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 95.63%.

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.