Voloridge Investment Management LLC Sells 598,663 Shares of United Parcel Service, Inc. (NYSE:UPS)

Voloridge Investment Management LLC lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 79.0% during the fourth quarter, HoldingsChannel reports. The fund owned 159,592 shares of the transportation company’s stock after selling 598,663 shares during the quarter. Voloridge Investment Management LLC’s holdings in United Parcel Service were worth $20,125,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Worldquant Millennium Advisors LLC acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $16,573,000. Waverly Advisors LLC increased its stake in shares of United Parcel Service by 77.1% in the fourth quarter. Waverly Advisors LLC now owns 150,428 shares of the transportation company’s stock valued at $18,969,000 after buying an additional 65,493 shares during the period. Woodline Partners LP acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $2,769,000. iSAM Funds UK Ltd acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $478,000. Finally, Sovereign s Capital Management LLC acquired a new stake in shares of United Parcel Service in the fourth quarter valued at about $1,992,000. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 1.1%

Shares of NYSE:UPS opened at $96.91 on Friday. The business’s 50 day simple moving average is $100.84 and its two-hundred day simple moving average is $116.72. The firm has a market cap of $82.06 billion, a P/E ratio of 14.34, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. United Parcel Service, Inc. has a 52-week low of $90.55 and a 52-week high of $148.15.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 earnings per share. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Monday, May 19th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.77%. United Parcel Service’s dividend payout ratio (DPR) is currently 95.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UPS shares. Oppenheimer decreased their price target on United Parcel Service from $126.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Morgan Stanley decreased their price target on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on United Parcel Service from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $98.00 target price (down previously from $120.00) on shares of United Parcel Service in a research note on Tuesday, April 22nd. Finally, Galvan Research decreased their target price on United Parcel Service from $147.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service presently has an average rating of “Hold” and a consensus target price of $120.26.

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.