ABC Arbitrage SA Takes Position in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• ABC Arbitrage SA acquired a new position in United Parcel Service, Inc. (UPS) by purchasing 13,446 shares worth approximately $1.48 million during the first quarter.
• UPS reported a 0.01 EPS miss on earnings results, posting $1.55 per share against expected $1.56, with quarterly revenue of $21.20 billion, exceeding estimates of $20.90 billion.
• The company recently announced a dividend of $1.64 per share, with an annualized yield of 7.7% and a high dividend payout ratio of 97.62%.

ABC Arbitrage SA bought a new position in United Parcel Service, Inc. (NYSE:UPS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,446 shares of the transportation company's stock, valued at approximately $1,479,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC grew its position in United Parcel Service by 38.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,620 shares of the transportation company's stock worth $178,000 after purchasing an additional 453 shares in the last quarter. Empower Advisory Group LLC grew its position in United Parcel Service by 18.3% in the first quarter. Empower Advisory Group LLC now owns 971,981 shares of the transportation company's stock worth $106,908,000 after acquiring an additional 150,160 shares in the last quarter. Encompass More Asset Management increased its stake in shares of United Parcel Service by 117.9% during the 1st quarter. Encompass More Asset Management now owns 4,514 shares of the transportation company's stock worth $496,000 after purchasing an additional 2,442 shares during the last quarter. Commonwealth Retirement Investments LLC raised its holdings in shares of United Parcel Service by 20.7% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 34,304 shares of the transportation company's stock valued at $3,773,000 after purchasing an additional 5,884 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its holdings in United Parcel Service by 14.1% during the first quarter. Cary Street Partners Financial LLC now owns 40,090 shares of the transportation company's stock valued at $4,409,000 after buying an additional 4,957 shares in the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Trading Up 0.5%

UPS opened at $84.96 on Tuesday. The firm has a 50 day simple moving average of $99.11 and a 200 day simple moving average of $105.51. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.09. The company has a market cap of $71.94 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12. United Parcel Service, Inc. has a fifty-two week low of $84.28 and a fifty-two week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%. United Parcel Service's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.79 EPS. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a dividend of $1.64 per share. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.7%. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

Analysts Set New Price Targets

Several analysts recently issued reports on UPS shares. Stephens decreased their price objective on shares of United Parcel Service from $110.00 to $101.00 in a report on Wednesday, April 30th. Jefferies Financial Group lowered their price target on United Parcel Service from $150.00 to $130.00 in a research report on Wednesday, April 30th. Truist Financial cut their price objective on United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Citigroup lowered their price objective on shares of United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $112.81.

Insider Transactions at United Parcel Service

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 31st. The stock was bought at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the purchase, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the purchase, the chief executive officer owned 24,718 shares in the company, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by company insiders.

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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