SouthState Corp Sells 240 Shares of United Parcel Service, Inc. (NYSE:UPS)

SouthState Corp cut its position in United Parcel Service, Inc. (NYSE:UPS) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,498 shares of the transportation company’s stock after selling 240 shares during the quarter. SouthState Corp’s holdings in United Parcel Service were worth $2,122,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of UPS. OFI Invest Asset Management acquired a new position in shares of United Parcel Service during the third quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new position in United Parcel Service during the 4th quarter valued at approximately $26,000. Life Planning Partners Inc purchased a new position in shares of United Parcel Service in the fourth quarter worth $28,000. Bourgeon Capital Management LLC purchased a new position in shares of United Parcel Service in the fourth quarter worth $31,000. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of United Parcel Service by 69.5% during the third quarter. VisionPoint Advisory Group LLC now owns 239 shares of the transportation company’s stock valued at $37,000 after buying an additional 98 shares during the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on United Parcel Service from $165.00 to $169.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Bank of America lifted their price objective on shares of United Parcel Service from $157.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Barclays cut their price objective on shares of United Parcel Service from $150.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of United Parcel Service from $183.00 to $179.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Finally, Argus lowered shares of United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $165.23.

United Parcel Service Price Performance

United Parcel Service stock traded down $0.79 during midday trading on Friday, reaching $146.43. The company had a trading volume of 1,998,734 shares, compared to its average volume of 4,217,563. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.10 and a quick ratio of 1.04. United Parcel Service, Inc. has a 12-month low of $133.68 and a 12-month high of $192.98. The company has a market capitalization of $124.85 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.67 and a beta of 1.05. The firm’s fifty day simple moving average is $149.44 and its 200-day simple moving average is $150.74.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, April 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. The business had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that United Parcel Service, Inc. will post 8.23 EPS for the current year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 13th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, May 10th. United Parcel Service’s dividend payout ratio (DPR) is 94.49%.

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.