Allspring Global Investments Holdings LLC Lowers Position in United Parcel Service, Inc. (NYSE:UPS)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,701 shares of the transportation company’s stock after selling 38,922 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Parcel Service were worth $10,129,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $25,000. Generali Investments Management Co LLC acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $28,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $30,000. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UPS has been the subject of several recent research reports. Citigroup reduced their price objective on United Parcel Service from $149.00 to $123.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut shares of United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. BNP Paribas Exane upgraded shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price target for the company in a research report on Thursday. Hsbc Global Res cut United Parcel Service from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Finally, Wolfe Research lowered their target price on United Parcel Service from $133.00 to $113.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $119.29.

United Parcel Service Trading Down 1.2%

Shares of UPS stock opened at $104.24 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. United Parcel Service, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $148.15. The stock has a market capitalization of $88.27 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.86 and a beta of 1.21. The stock has a 50-day simple moving average of $98.70 and a 200 day simple moving average of $110.00.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. During the same quarter last year, the company posted $1.43 EPS. United Parcel Service’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service’s dividend payout ratio is currently 95.63%.

United Parcel Service 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.