United Parcel Service, Inc. (NYSE:UPS) Stake Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,506 shares of the transportation company’s stock after selling 2,197 shares during the quarter. Maryland State Retirement & Pension System’s holdings in United Parcel Service were worth $4,982,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after buying an additional 33,989 shares during the period. Onyx Bridge Wealth Group LLC purchased a new stake in shares of United Parcel Service during the 4th quarter worth about $461,000. Synovus Financial Corp lifted its holdings in shares of United Parcel Service by 8.6% during the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after buying an additional 6,941 shares during the last quarter. HF Advisory Group LLC bought a new stake in shares of United Parcel Service in the 4th quarter valued at approximately $1,305,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in United Parcel Service by 27.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock worth $16,304,000 after buying an additional 28,108 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Trading Down 1.2 %

Shares of UPS stock opened at $117.42 on Thursday. The firm has a fifty day moving average of $120.49 and a 200-day moving average of $127.18. The stock has a market cap of $100.30 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a 52-week low of $109.40 and a 52-week high of $158.95. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period last year, the firm earned $2.47 earnings per share. On average, equities research analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a $1.64 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 5.59%. United Parcel Service’s payout ratio is currently 97.04%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UPS. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company cut their target price on United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird lowered United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $160.00 to $130.00 in a report on Friday, January 31st. Susquehanna reduced their target price on United Parcel Service from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley decreased their target price on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.09.

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.