Bank of New York Mellon Corp Sells 1,463,587 Shares of United Parcel Service, Inc. (NYSE:UPS)

Bank of New York Mellon Corp cut its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 22.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,012,851 shares of the transportation company’s stock after selling 1,463,587 shares during the quarter. Bank of New York Mellon Corp’s holdings in United Parcel Service were worth $632,120,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. AMF Tjanstepension AB boosted its position in United Parcel Service by 39.7% during the third quarter. AMF Tjanstepension AB now owns 108,360 shares of the transportation company’s stock valued at $14,793,000 after purchasing an additional 30,815 shares during the last quarter. Old Port Advisors grew its stake in shares of United Parcel Service by 119.4% in the third quarter. Old Port Advisors now owns 22,526 shares of the transportation company’s stock valued at $3,071,000 after buying an additional 12,259 shares in the last quarter. Strategic Wealth Investment Group LLC increased its holdings in United Parcel Service by 1,408.3% during the third quarter. Strategic Wealth Investment Group LLC now owns 32,776 shares of the transportation company’s stock worth $4,368,000 after buying an additional 30,603 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in United Parcel Service by 87.0% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 118,652 shares of the transportation company’s stock worth $16,177,000 after acquiring an additional 55,198 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in United Parcel Service by 19.9% in the third quarter. Fortitude Family Office LLC now owns 3,151 shares of the transportation company’s stock valued at $430,000 after acquiring an additional 523 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Stock Performance

NYSE:UPS opened at $118.11 on Wednesday. The company has a market cap of $100.89 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.55 and a beta of 0.98. United Parcel Service, Inc. has a fifty-two week low of $109.40 and a fifty-two 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. The stock has a fifty day moving average price of $122.78 and a 200-day moving average price of $128.27.

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

United Parcel Service Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be given a dividend of $1.64 per share. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $6.56 annualized dividend and a dividend yield of 5.55%. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UPS. Wells Fargo & Company lowered their price objective on shares of United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Morgan Stanley dropped their price objective on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Evercore ISI increased their price target on United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a research note on Wednesday, January 22nd. Loop Capital reduced their price objective on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup decreased their price objective on shares of United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service currently has an average rating of “Moderate Buy” and an average price target of $140.73.

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.