United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,738 shares of the transportation company's stock after selling 11,793 shares during the period. Synovus Financial Corp's holdings in United Parcel Service were worth $9,552,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of United Parcel Service by 4.3% in the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company's stock valued at $113,064,000 after buying an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in United Parcel Service in the fourth quarter valued at $461,000. HF Advisory Group LLC purchased a new stake in shares of United Parcel Service during the 4th quarter worth $1,305,000. Allspring Global Investments Holdings LLC boosted its position in shares of United Parcel Service by 27.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company's stock worth $16,304,000 after purchasing an additional 28,108 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in shares of United Parcel Service by 42.5% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 34,113 shares of the transportation company's stock valued at $4,302,000 after purchasing an additional 10,176 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

United Parcel Service Trading Up 2.3 %

Shares of United Parcel Service stock traded up $2.14 during trading hours on Thursday, hitting $96.34. The company's stock had a trading volume of 4,738,497 shares, compared to its average volume of 4,823,449. The business has a fifty day moving average of $111.12 and a 200 day moving average of $123.27. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 1-year low of $90.55 and a 1-year high of $153.42. The company has a market capitalization of $82.29 billion, a PE ratio of 14.25, a P/E/G ratio of 1.55 and a beta of 1.10.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period in the prior year, the business earned $2.47 earnings per share. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were issued a $1.64 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a yield of 6.81%. This is an increase from United Parcel Service's previous quarterly dividend of $1.63. United Parcel Service's dividend payout ratio is currently 97.04%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on UPS. JPMorgan Chase & Co. lowered their target price on shares of United Parcel Service from $120.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. UBS Group reduced their price objective on United Parcel Service from $141.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Truist Financial initiated coverage on United Parcel Service in a report on Thursday, March 13th. They issued a "buy" rating and a $140.00 target price on the stock. Morgan Stanley cut their price target on United Parcel Service from $100.00 to $82.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Finally, Susquehanna cut their target price on shares of United Parcel Service from $130.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $129.70.

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.