SouthState Corp Sells 984 Shares of United Parcel Service, Inc. (NYSE:UPS)

SouthState Corp lowered its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,599 shares of the transportation company’s stock after selling 984 shares during the quarter. SouthState Corp’s holdings in United Parcel Service were worth $1,309,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UPS. International Assets Investment Management LLC boosted its stake in shares of United Parcel Service by 15,779.6% in the 3rd quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after purchasing an additional 14,539,321 shares during the last quarter. Bank of New York Mellon Corp increased its stake in United Parcel Service by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock valued at $888,254,000 after buying an additional 20,426 shares during the last quarter. American Century Companies Inc. raised its holdings in United Parcel Service by 10.5% during the second quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock worth $567,157,000 after acquiring an additional 393,434 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of United Parcel Service by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock worth $611,445,000 after purchasing an additional 101,349 shares in the last quarter. Finally, Capital World Investors lifted its stake in United Parcel Service by 9.6% in the first quarter. Capital World Investors now owns 3,011,299 shares of the transportation company’s stock valued at $447,569,000 after acquiring an additional 263,313 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UPS. StockNews.com raised shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets lowered their price objective on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Argus upgraded United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays reissued an “underweight” rating and issued a $120.00 price objective on shares of United Parcel Service in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.52.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $133.20 on Wednesday. The stock’s fifty day moving average is $132.70 and its 200 day moving average is $134.41. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $113.67 billion, a P/E ratio of 20.12, a P/E/G ratio of 2.20 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last released its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.13. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.57 earnings per share. Sell-side analysts anticipate that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.89%. United Parcel Service’s dividend payout ratio (DPR) is presently 98.49%.

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.