Doheny Asset Management CA Acquires New Holdings in United Parcel Service, Inc. $UPS

Key Points

• Doheny Asset Management CA has acquired 25,709 shares of United Parcel Service, Inc. (UPS), valued at approximately $2.83 million, making it the firm's 15th largest stock position.
• Insider activity includes significant purchases by both Director William R. Johnson and CEO Carol B. Tome, increasing their ownership stakes by 96.90% and 89.61%, respectively.
• Recent analyst reports have seen varying target price adjustments, with Truist Financial reducing its price target from $130 to $120 while maintaining a "buy" rating for UPS shares.

Doheny Asset Management CA purchased a new stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,709 shares of the transportation company's stock, valued at approximately $2,828,000. United Parcel Service accounts for approximately 2.2% of Doheny Asset Management CA's investment portfolio, making the stock its 15th biggest holding.

Other large investors have also made changes to their positions in the company. Gallacher Capital Management LLC bought a new stake in shares of United Parcel Service during the 1st quarter valued at about $620,000. Garde Capital Inc. purchased a new position in shares of United Parcel Service during the 1st quarter valued at about $37,000. Golden State Wealth Management LLC lifted its position in shares of United Parcel Service by 61.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock valued at $173,000 after buying an additional 599 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of United Parcel Service by 5.9% during the 1st quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock valued at $381,000 after buying an additional 193 shares in the last quarter. Finally, Advisor Resource Council purchased a new position in shares of United Parcel Service during the 1st quarter valued at about $437,000. 60.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Carol B. Tome purchased 11,682 shares of the company's stock in a transaction dated 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 $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Johnson purchased 5,000 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the transaction, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

UPS has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Susquehanna lowered their price objective on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. TD Cowen lowered their price objective on United Parcel Service from $117.00 to $107.00 in a research report on Wednesday, April 30th. Bank of America reaffirmed a "neutral" rating and set a $98.00 price objective on shares of United Parcel Service in a research report on Tuesday, July 29th. Finally, Barclays dropped their price target on United Parcel Service from $90.00 to $80.00 and set an "underweight" rating for the company in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $112.81.

United Parcel Service Stock Up 3.0%

Shares of UPS traded up $2.5640 during midday trading on Friday, reaching $88.7140. 10,224,234 shares of the stock were exchanged, compared to its average volume of 10,494,927. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The company's 50 day moving average is $95.89 and its two-hundred day moving average is $101.85. The company has a market capitalization of $75.19 billion, a P/E ratio of 13.20, a PEG ratio of 1.63 and a beta of 1.12.

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 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 firm had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the previous year, the company posted $1.79 EPS. United Parcel Service's quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side 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 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%.

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.