5 Large-Cap Stocks Hedge Funds Are Dumping

3. United Parcel Service, Inc. (NYSE:UPS)

Number of Hedge Fund Holders: 36

Number of Hedge Funds That Sold: 19

On January 31, United Parcel Service, Inc. (NYSE:UPS) posted earnings for the fourth quarter of fiscal 2022. The company reported an EPS of $3.62 and outperformed estimates by $0.04. The company’s revenue for the quarter amounted to $27.03 billion, down 2.66% year over year and short of estimates by $1 billion.

United Parcel Service, Inc. (NYSE:UPS) was held by 36 hedge funds at the close of Q4 2022. The total stakes of these hedge funds amounted to $514.6 million, down from $656.2 million in the previous quarter with 55 positions. The hedge fund sentiment for the stock is negative and United Parcel Service, Inc. (NYSE:UPS) is the third-largest stock that hedge funds dumped in Q4 2022.

As of December 31, Bill & Melinda Gates Foundation Trust is the most prominent investor in the company and has a position worth $128.7 million.

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