Primecap Management Co. CA Sells 68,954 Shares of United Parcel Service, Inc. (NYSE:UPS)

Primecap Management Co. CA reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,788,761 shares of the transportation company’s stock after selling 68,954 shares during the quarter. Primecap Management Co. CA owned approximately 0.33% of United Parcel Service worth $351,663,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pacific Sage Partners LLC grew its stake in shares of United Parcel Service by 4.8% during the 4th quarter. Pacific Sage Partners LLC now owns 1,677 shares of the transportation company’s stock worth $212,000 after acquiring an additional 77 shares in the last quarter. Banco Santander S.A. grew its stake in shares of United Parcel Service by 0.6% in the third quarter. Banco Santander S.A. now owns 12,596 shares of the transportation company’s stock valued at $1,717,000 after buying an additional 79 shares in the last quarter. Quent Capital LLC increased its holdings in United Parcel Service by 16.7% during the fourth quarter. Quent Capital LLC now owns 558 shares of the transportation company’s stock worth $70,000 after buying an additional 80 shares during the last quarter. Tradewinds LLC. increased its holdings in United Parcel Service by 1.8% during the third quarter. Tradewinds LLC. now owns 4,487 shares of the transportation company’s stock worth $612,000 after buying an additional 81 shares during the last quarter. Finally, Gleason Group Inc. increased its holdings in United Parcel Service by 1.3% during the fourth quarter. Gleason Group Inc. now owns 6,660 shares of the transportation company’s stock worth $840,000 after buying an additional 84 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Stock Performance

NYSE:UPS opened at $118.13 on Tuesday. The stock’s 50-day simple moving average is $120.79 and its 200 day simple moving average is $127.32. The firm has a market capitalization of $100.91 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a twelve month low of $109.40 and a twelve month high of $158.95.

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 the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period last year, the firm earned $2.47 EPS. On average, analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a $1.64 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a yield of 5.55%. United Parcel Service’s dividend payout ratio (DPR) is 97.04%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UPS. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Loop Capital lowered their target price on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Raymond James dropped their price target on United Parcel Service from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 31st. Truist Financial assumed coverage on United Parcel Service in a research note on Thursday, March 13th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.