14,656 Shares in United Parcel Service, Inc. $UPS Purchased by BLVD Private Wealth LLC

Key Points

• BLVD Private Wealth LLC opened a new position in United Parcel Service by acquiring 14,656 shares worth about $1.48 million in Q2, making UPS roughly 1.4% of the firm's portfolio and its 20th-largest holding.
• Several large institutions also increased or initiated stakes—most notably Norges Bank, Laurel Wealth Advisors (which jumped to 2.5M shares), Arrowstreet, Invesco and Assenagon—leaving hedge funds and other institutions owning about 60.26% of UPS.
• UPS recently beat quarterly estimates with $1.74 EPS (vs. $1.31 expected) and $21.42B revenue though revenue was down 3.7% year-over-year, and it pays a quarterly dividend of $1.64 (a 6.5% yield) with a payout ratio above 100%.

BLVD Private Wealth LLC acquired a new position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,656 shares of the transportation company's stock, valued at approximately $1,479,000. United Parcel Service makes up approximately 1.4% of BLVD Private Wealth LLC's investment portfolio, making the stock its 20th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in United Parcel Service in the 2nd quarter valued at about $851,842,000. Laurel Wealth Advisors LLC raised its position in shares of United Parcel Service by 11,517.3% in the second quarter. Laurel Wealth Advisors LLC now owns 2,503,413 shares of the transportation company's stock valued at $252,695,000 after buying an additional 2,481,864 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in United Parcel Service by 78.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,086,862 shares of the transportation company's stock worth $412,528,000 after acquiring an additional 1,799,882 shares during the last quarter. Invesco Ltd. grew its stake in United Parcel Service by 45.4% in the 2nd quarter. Invesco Ltd. now owns 5,730,804 shares of the transportation company's stock worth $578,467,000 after acquiring an additional 1,789,467 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in United Parcel Service by 443.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company's stock valued at $156,453,000 after acquiring an additional 1,264,842 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Performance

Shares of NYSE:UPS opened at $100.91 on Friday. The company has a market cap of $85.61 billion, a P/E ratio of 15.60, a PEG ratio of 2.41 and a beta of 1.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.30 and a current ratio of 1.30. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $136.99. The business's 50-day simple moving average is $92.40 and its 200 day simple moving average is $92.68.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The firm had revenue of $21.42 billion during the quarter, compared to analysts' expectations of $20.94 billion. During the same quarter in the prior year, the business earned $1.76 EPS. United Parcel Service's quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $6.56 annualized dividend and a yield of 6.5%. United Parcel Service's payout ratio is 101.39%.

Analyst Ratings Changes

UPS has been the topic of several recent analyst reports. Stephens upgraded United Parcel Service to a "hold" rating in a research report on Wednesday, October 29th. Citigroup upped their price objective on shares of United Parcel Service from $112.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. BMO Capital Markets reissued a "market perform" rating and issued a $96.00 target price (down from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. Truist Financial boosted their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of United Parcel Service from $100.00 to $88.00 and set a "hold" rating on the stock in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, United Parcel Service has an average rating of "Hold" and a consensus price target of $110.00.

United Parcel Service Company 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.

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