Austin Asset Management Co Inc Purchases 59,384 Shares of United Parcel Service, Inc. $UPS

Key Points

• Austin Asset Management massively increased its UPS stake in the first quarter, buying 59,384 shares and lifting its holdings to 61,919 shares worth about $6.1 million.
• UPS reported quarterly results above expectations, posting EPS of $1.07 versus the $1.02 consensus and revenue of $21.20 billion, though revenue still declined 1.4% year over year.
• Analysts remain mixed on UPS: the stock has an average rating of “Hold” with an average price target of $110.85, while the shares were trading around $110 and offered a 6.0% dividend yield.

Austin Asset Management Co Inc grew its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 2,342.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,919 shares of the transportation company's stock after purchasing an additional 59,384 shares during the quarter. United Parcel Service makes up 1.0% of Austin Asset Management Co Inc's holdings, making the stock its 17th biggest holding. Austin Asset Management Co Inc's holdings in United Parcel Service were worth $6,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in UPS. University of Texas Texas AM Investment Management Co. acquired a new stake in United Parcel Service during the 4th quarter worth approximately $25,000. IFC & Insurance Marketing Inc. acquired a new position in United Parcel Service in the 4th quarter valued at approximately $25,000. Coston McIsaac & Partners increased its position in United Parcel Service by 77.8% in the 4th quarter. Coston McIsaac & Partners now owns 272 shares of the transportation company's stock valued at $27,000 after acquiring an additional 119 shares during the period. Torren Management LLC bought a new position in shares of United Parcel Service during the fourth quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of United Parcel Service during the fourth quarter valued at $29,000. 60.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on UPS shares. Susquehanna lifted their price target on shares of United Parcel Service from $116.00 to $118.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings downgraded United Parcel Service from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, May 8th. UBS Group lowered their target price on United Parcel Service from $125.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Evercore reduced their price target on United Parcel Service from $115.00 to $113.00 and set an "in-line" rating on the stock in a research report on Wednesday, April 22nd. Finally, Citigroup increased their price target on United Parcel Service from $118.00 to $127.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, United Parcel Service presently has an average rating of "Hold" and an average target price of $110.85.

United Parcel Service Trading Down 1.8%

NYSE:UPS opened at $110.00 on Thursday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $93.50 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.78 and a beta of 1.05. The firm has a fifty day simple moving average of $105.09 and a two-hundred day simple moving average of $105.48.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 earnings per share. Analysts expect that United Parcel Service, Inc. will post 7.11 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were issued a $1.64 dividend. The ex-dividend date was Monday, May 18th. This represents a $6.56 annualized dividend and a yield of 6.0%. United Parcel Service's dividend payout ratio is presently 106.15%.

United Parcel Service Company Profile

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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