Berkshire Asset Management LLC PA Increases Holdings in United Parcel Service, Inc. $UPS

Key Points

• Berkshire Asset Management LLC PA increased its holdings in United Parcel Service, Inc. (UPS) by 57.1%, bringing its total to 9,251 shares worth approximately $1,018,000.
• UPS reported a quarterly EPS of $1.55, missing estimates by $0.01, while revenue of $21.20 billion exceeded forecasts.
• The company declared a quarterly dividend of $1.64, which translates to an annualized yield of 7.5%, marking a significant payout ratio of 97.62%.

Berkshire Asset Management LLC PA boosted its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 57.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,251 shares of the transportation company's stock after purchasing an additional 3,364 shares during the period. Berkshire Asset Management LLC PA's holdings in United Parcel Service were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UPS. Brighton Jones LLC increased its holdings in United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock valued at $1,529,000 after purchasing an additional 4,723 shares during the period. Jump Financial LLC increased its holdings in United Parcel Service by 77.1% during the 4th quarter. Jump Financial LLC now owns 7,174 shares of the transportation company's stock valued at $905,000 after purchasing an additional 3,124 shares during the period. GeoWealth Management LLC increased its holdings in United Parcel Service by 22.4% during the 4th quarter. GeoWealth Management LLC now owns 3,026 shares of the transportation company's stock valued at $382,000 after purchasing an additional 554 shares during the period. Transce3nd LLC purchased a new position in United Parcel Service during the 4th quarter valued at about $33,000. Finally, OneDigital Investment Advisors LLC increased its holdings in United Parcel Service by 26.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 33,076 shares of the transportation company's stock valued at $4,171,000 after purchasing an additional 6,886 shares during the period. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Performance

Shares of UPS opened at $87.7170 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The business's 50 day moving average price is $96.69 and its 200-day moving average price is $102.44. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01. The stock has a market cap of $74.35 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.59 and a beta of 1.12.

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

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's payout ratio is currently 97.62%.

Insider Buying and Selling

In other United Parcel Service news, CEO Carol B. Tome bought 11,682 shares of the business's stock in a transaction on Friday, August 1st. The shares were acquired at an average cost 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 trade represents a 89.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Johnson bought 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired 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 owned 10,160 shares in the company, valued at approximately $878,840. The trade was a 96.90% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

UPS has been the topic of a number of research analyst reports. Truist Financial reduced their price target on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Jefferies Financial Group cut their price objective on United Parcel Service from $150.00 to $130.00 in a research report on Wednesday, April 30th. Redburn Atlantic cut their price objective on United Parcel Service from $137.00 to $117.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. BMO Capital Markets cut their price objective on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Galvan Research cut their price objective on United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $112.81.

About United Parcel Service

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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