Channing Capital Management LLC Acquires New Holdings in United Parcel Service, Inc. $UPS

Key Points

• Channing Capital Management LLC purchased 60,699 shares of United Parcel Service, Inc. (UPS) worth approximately $6.68 million during the 1st quarter.
• Several analysts have reduced their price targets for UPS, with Wells Fargo lowering it from $98 to $91, while others have recommended a mix of "Buy" and "Hold" ratings, indicating an average target price of $112.81.
• UPS reported a net margin of 6.34% and a quarterly revenue of $21.20 billion but missed earnings expectations, posting $1.55 earnings per share against a consensus of $1.56.

Channing Capital Management LLC bought a new position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60,699 shares of the transportation company's stock, valued at approximately $6,676,000.

Several other institutional investors have also added to or reduced their stakes in UPS. Graybill Wealth Management LTD. bought a new position in shares of United Parcel Service during the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new stake in United Parcel Service during the fourth quarter valued at $27,000. Citizens National Bank Trust Department raised its stake in United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after purchasing an additional 210 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in United Parcel Service during the fourth quarter valued at $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of United Parcel Service in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

Analyst Upgrades and Downgrades

UPS has been the topic of several recent research reports. Vertical Research restated a "hold" rating and set a $103.00 target price on shares of United Parcel Service in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Susquehanna dropped their target price on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Stephens cut their target price on United Parcel Service from $110.00 to $101.00 in a research report on Wednesday, April 30th. Finally, Truist Financial decreased 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $112.81.

United Parcel Service Trading Up 3.0%

UPS stock traded up $2.5640 during trading on Friday, hitting $88.7140. The company had a trading volume of 10,224,234 shares, compared to its average volume of 10,257,072. United Parcel Service, Inc. has a 52-week low of $84.28 and a 52-week high of $145.01. The company has a 50 day simple moving average of $95.89 and a 200-day simple moving average of $102.00. The firm has a market capitalization of $75.19 billion, a P/E ratio of 13.20, a PEG ratio of 1.58 and a beta of 1.12. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.01). The company had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. United Parcel Service's quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.79 earnings per share. As a group, research 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 will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.4%. United Parcel Service's dividend payout ratio is presently 97.62%.

Insider Buying and Selling at United Parcel Service

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 price of $85.67 per share, with a total value of $1,000,796.94. Following the transaction, the chief executive officer owned 24,718 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Also, Director William R. Johnson purchased 5,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

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.