Commerce Bank Sells 10,972 Shares of United Parcel Service, Inc. (NYSE:UPS)

Commerce Bank lowered its stake in United Parcel Service, Inc. (NYSE:UPS) by 24.8% in the 4th quarter, Holdings Channel reports. The firm owned 33,233 shares of the transportation company’s stock after selling 10,972 shares during the quarter. Commerce Bank’s holdings in United Parcel Service were worth $4,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted 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 worth $113,064,000 after purchasing an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of United Parcel Service in the fourth quarter worth $461,000. Synovus Financial Corp raised its position in shares of United Parcel Service by 8.6% in the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after buying an additional 6,941 shares in the last quarter. HF Advisory Group LLC bought a new stake in United Parcel Service during the fourth quarter valued at $1,305,000. Finally, Allspring Global Investments Holdings LLC grew its position in United Parcel Service by 27.2% during 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 in the last quarter. 60.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on United Parcel Service from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Bank of America dropped their target price on shares of United Parcel Service from $133.00 to $129.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Citigroup decreased their price target on shares of United Parcel Service from $149.00 to $123.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Truist Financial began coverage on shares of United Parcel Service in a research report on Thursday, March 13th. They issued a “buy” rating and a $140.00 target price for the company. Finally, Barclays lowered 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and an average target price of $129.70.

United Parcel Service Trading Up 2.3 %

NYSE UPS opened at $96.34 on Monday. The stock’s fifty day moving average price is $110.40 and its 200-day moving average price is $122.61. 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 stock has a market cap of $82.29 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.55 and a beta of 1.10. United Parcel Service, Inc. has a 12 month low of $90.55 and a 12 month high of $153.42.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company posted $2.47 earnings per share. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.81%. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

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.