SouthState Corp Trims Stake in United Parcel Service, Inc. (NYSE:UPS)

SouthState Corp lowered its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of UPS. International Assets Investment Management LLC boosted its holdings in United Parcel Service by 15,779.6% in the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock worth $1,994,853,000 after acquiring an additional 14,539,321 shares in the last quarter. Marshall Wace LLP increased its stake in shares of United Parcel Service by 284.8% in the 2nd quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock worth $351,681,000 after purchasing an additional 1,901,914 shares in the last quarter. Van ECK Associates Corp increased its holdings in United Parcel Service by 1,061.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after acquiring an additional 1,620,091 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in United Parcel Service by 5,136.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,079,964 shares of the transportation company’s stock worth $147,242,000 after purchasing an additional 1,059,339 shares during the period. Finally, Interval Partners LP bought a new stake in shares of United Parcel Service in the first quarter worth about $90,099,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UPS. StockNews.com upgraded United Parcel Service from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets cut their price objective on shares of United Parcel Service from $169.00 to $155.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Evercore ISI lifted their price objective on shares of United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Baird R W upgraded United Parcel Service to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.52.

United Parcel Service Stock Performance

UPS stock opened at $133.20 on Wednesday. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The stock has a market capitalization of $113.67 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.20 and a beta of 0.99. The stock’s fifty day moving average is $132.70 and its two-hundred day moving average is $134.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14.

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

United Parcel Service Dividend Announcement

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

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.