AQR Capital Management LLC Boosts Stake in United Parcel Service, Inc. $UPS

Key Points

• AQR Capital Management LLC significantly increased its stake in United Parcel Service (UPS) by 582%, acquiring over 1 million additional shares, bringing its total holdings to approximately $128.9 million.
• After recent earnings reports, several analysts have downgraded their price targets for UPS, with estimates varying from $75.00 to $120.00, indicating mixed market sentiments.
• UPS recently declared a quarterly dividend of $1.64 per share, yielding approximately 7.8%, with a high dividend payout ratio of 97.62%.

AQR Capital Management LLC grew its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 582.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,180,709 shares of the transportation company's stock after purchasing an additional 1,007,585 shares during the period. AQR Capital Management LLC owned approximately 0.14% of United Parcel Service worth $128,886,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of United Parcel Service by 1.5% in the first quarter. Vanguard Group Inc. now owns 66,136,226 shares of the transportation company's stock worth $7,274,323,000 after acquiring an additional 999,832 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in United Parcel Service by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock valued at $2,754,751,000 after buying an additional 1,780,807 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of United Parcel Service by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after buying an additional 4,988,044 shares during the last quarter. Northern Trust Corp increased its stake in shares of United Parcel Service by 0.3% in the first quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock worth $815,633,000 after purchasing an additional 23,918 shares during the period. Finally, Pacer Advisors Inc. increased its position in United Parcel Service by 1,056.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after acquiring an additional 3,961,255 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on UPS shares. Citigroup lowered their price target on United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company lowered their price objective on shares of United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 30th. Wolfe Research reduced their price objective on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. BNP Paribas Exane upgraded United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a research note on Thursday, July 3rd. Finally, Oppenheimer dropped their price objective on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.59.

Insider Activity at United Parcel Service

In other United Parcel Service news, Director Christiana Smith Shi bought 500 shares of the stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, with a total value of $44,085.00. Following the acquisition, the director directly owned 500 shares of the company's stock, valued at $44,085. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Johnson bought 5,000 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 17,182 shares of company stock worth $1,477,382. Company insiders own 0.13% of the company's stock.

United Parcel Service Trading Up 0.6%

Shares of United Parcel Service stock traded up $0.48 during midday trading on Friday, reaching $84.96. The company had a trading volume of 8,580,388 shares, compared to its average volume of 7,905,999. United Parcel Service, Inc. has a fifty-two week low of $83.67 and a fifty-two week high of $145.01. The stock has a fifty day moving average price of $93.18 and a 200 day moving average price of $99.96. The firm has a market cap of $72.01 billion, a PE ratio of 12.64, a P/E/G ratio of 1.56 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32.

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

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.7%. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

United Parcel Service 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.