Parnassus Investments CA decreased its position in United Parcel Service, Inc. (NYSE:UPS) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 4,718,439 shares of the transportation company’s stock after selling 1,503,144 shares during the quarter. United Parcel Service comprises 2.1% of Parnassus Investments CA’s investment portfolio, making the stock its 24th biggest position. Parnassus Investments CA’s holdings in United Parcel Service were worth $527,238,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in UPS. Oregon Public Employees Retirement Fund boosted its holdings in shares of United Parcel Service by 9,644.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,364,978 shares of the transportation company’s stock worth $76,000 after purchasing an additional 7,289,396 shares during the period. Norges Bank purchased a new position in shares of United Parcel Service in the 4th quarter worth approximately $491,939,000. Ronna Sue Cohen boosted its holdings in shares of United Parcel Service by 10,745.2% in the 1st quarter. Ronna Sue Cohen now owns 2,945,780 shares of the transportation company’s stock worth $2,946,000 after purchasing an additional 2,918,618 shares during the period. Boston Partners boosted its holdings in shares of United Parcel Service by 3,240.0% in the 4th quarter. Boston Partners now owns 1,891,319 shares of the transportation company’s stock worth $184,460,000 after purchasing an additional 1,834,692 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of United Parcel Service by 3.6% in the 4th quarter. BlackRock Inc. now owns 43,989,061 shares of the transportation company’s stock worth $4,290,253,000 after purchasing an additional 1,534,331 shares during the period. 55.77% of the stock is currently owned by institutional investors and hedge funds.
UPS opened at $99.76 on Thursday. United Parcel Service, Inc. has a 52-week low of $89.89 and a 52-week high of $125.09. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $85.52 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16.
United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.03). United Parcel Service had a net margin of 6.34% and a return on equity of 205.26%. The business had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $17.79 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. United Parcel Service’s revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Monday, May 20th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, May 17th. United Parcel Service’s payout ratio is currently 53.04%.
A number of equities analysts have recently commented on the company. Cowen reiterated a “market perform” rating and issued a $116.00 target price (down previously from $118.00) on shares of United Parcel Service in a report on Friday, April 26th. Raymond James dropped their target price on United Parcel Service from $135.00 to $130.00 and set a “strong-buy” rating for the company in a report on Friday, April 26th. Berenberg Bank reiterated a “hold” rating and issued a $125.00 target price on shares of United Parcel Service in a report on Monday, March 25th. Argus reiterated a “buy” rating on shares of United Parcel Service in a report on Tuesday, April 30th. Finally, Standpoint Research cut United Parcel Service from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $122.41.
In other United Parcel Service news, SVP Teri P. Mcclure sold 5,000 shares of United Parcel Service stock in a transaction on Monday, February 25th. The stock was sold at an average price of $109.72, for a total transaction of $548,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Norman M. Brothers, Jr. sold 1,500 shares of United Parcel Service stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $106.03, for a total value of $159,045.00. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
United Parcel Service Company Profile
United Parcel Service, Inc provides letter and package delivery, specialized transportation, logistics, and financial services. It operates through three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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