Wedge Capital Management L L P NC Cuts Position in United Parcel Service, Inc. (NYSE:UPS)

Wedge Capital Management L L P NC decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 86,425 shares of the transportation company’s stock after selling 4,830 shares during the quarter. Wedge Capital Management L L P NC’s holdings in United Parcel Service were worth $9,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UPS. Norges Bank purchased a new stake in United Parcel Service in the fourth quarter valued at approximately $1,075,393,000. Raymond James Financial Inc. purchased a new stake in United Parcel Service in the fourth quarter valued at approximately $393,680,000. Franklin Resources Inc. raised its position in United Parcel Service by 15.6% in the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company’s stock valued at $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. Van ECK Associates Corp raised its position in United Parcel Service by 77.7% in the fourth quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock valued at $397,329,000 after purchasing an additional 1,378,136 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in United Parcel Service by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock valued at $2,933,674,000 after purchasing an additional 1,337,058 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

NYSE UPS opened at $98.24 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $148.15. The company has a market capitalization of $83.19 billion, a PE ratio of 14.53, a P/E/G ratio of 1.55 and a beta of 1.22. The company has a fifty day moving average of $97.32 and a two-hundred day moving average of $113.74.

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

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were paid a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.68%. United Parcel Service’s dividend payout ratio is presently 95.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UPS. Loop Capital cut their price objective on United Parcel Service from $115.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Bank of America upped their price objective on United Parcel Service from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Wall Street Zen lowered United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Galvan Research cut their price objective on United Parcel Service from $147.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on United Parcel Service in a research report on Friday, March 7th. They set a “hold” rating and a $119.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $120.26.

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.