Allspring Global Investments Holdings LLC Acquires 29,657 Shares of United Parcel Service, Inc. (NYSE:UPS)

Allspring Global Investments Holdings LLC grew its holdings in United Parcel Service, Inc. (NYSE:UPS) by 40.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 103,515 shares of the transportation company’s stock after purchasing an additional 29,657 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United Parcel Service were worth $14,113,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC grew its position in United Parcel Service by 6.5% in the first quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock valued at $991,556,000 after acquiring an additional 406,248 shares during the last quarter. Bank of New York Mellon Corp increased its position in United Parcel Service by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock worth $888,254,000 after purchasing an additional 20,426 shares in the last quarter. American Century Companies Inc. lifted its stake in United Parcel Service by 10.5% in the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock valued at $567,157,000 after purchasing an additional 393,434 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in United Parcel Service by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock valued at $611,445,000 after buying an additional 101,349 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of United Parcel Service by 9.6% during the first quarter. Capital World Investors now owns 3,011,299 shares of the transportation company’s stock worth $447,569,000 after buying an additional 263,313 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $137.47 on Friday. The business has a 50-day simple moving average of $130.73 and a 200 day simple moving average of $136.17. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $117.75 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.93 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.65 by $0.11. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.10 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that United Parcel Service, Inc. will post 7.44 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Monday, August 19th. United Parcel Service’s dividend payout ratio (DPR) is 106.36%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UPS. BMO Capital Markets cut their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. UBS Group upped their price objective on United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating on the stock in a research report on Friday. TD Cowen started coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price target for the company. Finally, Susquehanna lifted their price target on shares of United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service presently has an average rating of “Moderate Buy” and an average target price of $151.43.

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.