Cullen Investment Group LTD. Has $7.24 Million Position in United Parcel Service, Inc. $UPS

Key Points

• Cullen Investment Group LTD. increased its stake in United Parcel Service, Inc. by 19.1%, bringing its holdings to 71,769 shares valued at $7.24 million. This makes UPS the 29th largest position in their portfolio.
• United Parcel Service reported a quarterly earnings per share (EPS) of $1.55, slightly below the consensus estimate of $1.56, while its revenue was $21.20 billion, outpacing expectations.
• The company declared a quarterly dividend of $1.64, representing an annualized dividend of $6.56 with a yield of 7.8%, although its dividend payout ratio is notably high at 97.62%.

Cullen Investment Group LTD. boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 19.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,769 shares of the transportation company's stock after acquiring an additional 11,488 shares during the quarter. United Parcel Service accounts for 1.0% of Cullen Investment Group LTD.'s portfolio, making the stock its 29th largest position. Cullen Investment Group LTD.'s holdings in United Parcel Service were worth $7,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in United Parcel Service by 1.5% during 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 stake 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 worth $2,754,751,000 after acquiring an additional 1,780,807 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in United Parcel Service by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after acquiring an additional 4,988,044 shares in the last quarter. Northern Trust Corp raised its stake in United Parcel Service by 0.3% during the first quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock worth $815,633,000 after acquiring an additional 23,918 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in United Parcel Service by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,719,145 shares of the transportation company's stock worth $519,059,000 after acquiring an additional 171,303 shares in the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Price Performance

United Parcel Service stock opened at $84.40 on Friday. The business's 50-day simple moving average is $91.22 and its 200 day simple moving average is $98.96. The stock has a market cap of $71.53 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.56 and a beta of 1.08. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $145.01. 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 posted its quarterly earnings results 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 firm had revenue of $21.20 billion during the quarter, compared to the consensus estimate 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 revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 EPS. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.8%. United Parcel Service's dividend payout ratio (DPR) is currently 97.62%.

Insider Activity at United Parcel Service

In other news, Director Christiana Smith Shi purchased 500 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carol B. Tome purchased 11,682 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer owned 24,718 shares of the company's stock, valued at $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 17,182 shares of company stock worth $1,477,382 over the last 90 days. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UPS. Susquehanna decreased their target price on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Truist Financial decreased their target price 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. Vertical Research restated a "hold" rating and set a $103.00 target price on shares of United Parcel Service in a report on Wednesday, July 30th. Wolfe Research decreased their target price on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. decreased their target price on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $112.34.

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.

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