United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,871 shares of the transportation company’s stock after selling 10,779 shares during the quarter. Fifth Third Bancorp’s holdings in United Parcel Service were worth $18,320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new position in shares of United Parcel Service during the 4th quarter valued at $26,000. Greenleaf Trust lifted its stake in shares of United Parcel Service by 7.0% during the fourth quarter. Greenleaf Trust now owns 11,493 shares of the transportation company’s stock worth $1,807,000 after purchasing an additional 752 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of United Parcel Service in the fourth quarter worth about $87,000. abrdn plc grew its stake in shares of United Parcel Service by 37.1% in the fourth quarter. abrdn plc now owns 476,642 shares of the transportation company’s stock valued at $74,942,000 after buying an additional 128,952 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of United Parcel Service by 4.1% during the 4th quarter. Lindbrook Capital LLC now owns 5,529 shares of the transportation company’s stock valued at $869,000 after buying an additional 217 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other United Parcel Service news, Director William R. Johnson purchased 5,000 shares of United Parcel Service stock in a transaction on Thursday, July 25th. The stock was bought at an average price of $128.61 per share, for a total transaction of $643,050.00. Following the transaction, the director now owns 5,160 shares of the company’s stock, valued at approximately $663,627.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

UPS has been the subject of a number of analyst reports. Evercore ISI decreased their price target on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, June 24th. Oppenheimer cut their price objective on shares of United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on shares of United Parcel Service from $156.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Baird R W raised United Parcel Service to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird reduced their price target on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

United Parcel Service Stock Performance

NYSE UPS traded down $0.96 during trading hours on Wednesday, reaching $127.92. The company’s stock had a trading volume of 4,895,256 shares, compared to its average volume of 4,238,636. The stock has a market cap of $109.57 billion, a PE ratio of 18.62, a PEG ratio of 1.82 and a beta of 0.98. The business has a 50-day simple moving average of $133.71 and a 200 day simple moving average of $142.27. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $172.75. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The firm had revenue of $21.82 billion for the quarter, compared to analyst estimates of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $2.54 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 7.51 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 5.10%. United Parcel Service’s dividend payout ratio is presently 94.49%.

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.