Cove Private Wealth LLC Buys 10,677 Shares of United Parcel Service, Inc. $UPS

Key Points

• Cove Private Wealth LLC raised its stake in United Parcel Service (UPS) by 18.6%, buying 10,677 shares to hold 67,983 shares worth $6.743 million, making UPS 2.0% of its portfolio and its ninth-largest holding.
• UPS beat quarterly estimates with EPS of $2.38 (vs. $2.20 est.) and revenue of $24.48 billion (vs. $23.91 billion est.), though revenue fell 3.2% year-over-year; analysts' consensus is a "Hold" with an average target of $113.03.
• Insider Norman M. Brothers Jr. sold 25,014 shares for about $2.66 million at an average of $106.15, and the company paid a quarterly dividend of $1.64 per share (annualized $6.56) yielding 6.4% with a 100% payout ratio.

Cove Private Wealth LLC raised its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,983 shares of the transportation company's stock after buying an additional 10,677 shares during the quarter. United Parcel Service accounts for 2.0% of Cove Private Wealth LLC's investment portfolio, making the stock its 9th largest holding. Cove Private Wealth LLC's holdings in United Parcel Service were worth $6,743,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Salzhauer Michael acquired a new position in United Parcel Service in the third quarter valued at approximately $31,000. Physician Wealth Advisors Inc. lifted its stake in United Parcel Service by 76.5% in the third quarter. Physician Wealth Advisors Inc. now owns 376 shares of the transportation company's stock valued at $31,000 after buying an additional 163 shares during the period. Avion Wealth lifted its stake in United Parcel Service by 284.1% in the third quarter. Avion Wealth now owns 434 shares of the transportation company's stock valued at $36,000 after buying an additional 321 shares during the period. Optima Capital LLC acquired a new position in United Parcel Service in the fourth quarter valued at approximately $44,000. Finally, Princeton Global Asset Management LLC lifted its stake in United Parcel Service by 241.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 454 shares of the transportation company's stock valued at $45,000 after buying an additional 321 shares during the period. 60.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Parcel Service

In related news, insider Norman M. Brothers, Jr. sold 25,014 shares of the company's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $106.15, for a total transaction of $2,655,236.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on United Parcel Service from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, January 9th. Weiss Ratings raised United Parcel Service from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, February 6th. UBS Group boosted their price target on United Parcel Service from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Stephens boosted their price objective on United Parcel Service from $113.00 to $115.00 and gave the company an "equal weight" rating in a report on Wednesday, January 28th. Finally, BMO Capital Markets increased their target price on United Parcel Service from $105.00 to $110.00 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $113.03.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $102.00 on Tuesday. The stock has a market cap of $86.61 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.22 and a current ratio of 1.22. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $122.41. The firm's 50-day simple moving average is $106.34 and its 200 day simple moving average is $99.97.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The transportation company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.18. The firm had revenue of $24.48 billion during the quarter, compared to analyst estimates of $23.91 billion. United Parcel Service had a return on equity of 38.30% and a net margin of 6.28%.The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 EPS. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Tuesday, February 17th were issued a dividend of $1.64 per share. The ex-dividend date was Tuesday, February 17th. This represents a $6.56 annualized dividend and a yield of 6.4%. United Parcel Service's dividend payout ratio is 100.00%.

United Parcel Service 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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