Voya Investment Management LLC Sells 240,329 Shares of United Parcel Service, Inc. $UPS

Voya Investment Management LLC cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 46.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 277,908 shares of the transportation company’s stock after selling 240,329 shares during the period. Voya Investment Management LLC’s holdings in United Parcel Service were worth $23,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of UPS. Addenda Capital Inc. raised its stake in shares of United Parcel Service by 28.0% in the third quarter. Addenda Capital Inc. now owns 88,067 shares of the transportation company’s stock worth $7,356,000 after purchasing an additional 19,289 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in United Parcel Service by 5.4% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 20,040 shares of the transportation company’s stock worth $1,674,000 after buying an additional 1,034 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in United Parcel Service by 17.0% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 23,713 shares of the transportation company’s stock worth $1,981,000 after buying an additional 3,453 shares during the last quarter. Long Run Wealth Advisors LLC lifted its stake in United Parcel Service by 27.0% during the 3rd quarter. Long Run Wealth Advisors LLC now owns 18,944 shares of the transportation company’s stock valued at $1,582,000 after acquiring an additional 4,025 shares during the period. Finally, Marshall Financial Group LLC bought a new position in United Parcel Service during the 3rd quarter valued at about $391,000. Institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on UPS. Citigroup boosted their price objective on shares of United Parcel Service from $112.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Truist Financial lifted their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Bank of America lowered their price target on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating on the stock in a report on Friday, September 26th. UBS Group raised their price target on United Parcel Service from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of United Parcel Service in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Parcel Service presently has an average rating of “Hold” and a consensus price target of $110.09.

United Parcel Service Stock Performance

NYSE:UPS opened at $101.93 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50-day simple moving average of $93.97 and a two-hundred day simple moving average of $92.76. The firm has a market capitalization of $86.48 billion, a PE ratio of 15.75, a P/E/G ratio of 2.43 and a beta of 1.11. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $136.99.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.31 by $0.43. The firm had revenue of $21.42 billion for the quarter, compared to the consensus estimate of $20.94 billion. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 earnings per share. Analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Monday, November 17th. United Parcel Service’s dividend payout ratio is presently 101.39%.

United Parcel Service Profile

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.