Harvest Portfolios Group Inc. Purchases 3,047 Shares of United Parcel Service, Inc. $UPS

Key Points

• Harvest Portfolios Group Inc. increased its holding in United Parcel Service, Inc. by 23.7% in the first quarter, now owning 15,881 shares valued at approximately $1.75 million.
• United Parcel Service reported earnings per share (EPS) of $1.55 for the last quarter, missing estimates by $0.01, while revenue reached $21.20 billion, exceeding expectations.
• UPS declared a quarterly dividend of $1.64 per share, translating to an annualized yield of 7.5%, with a high dividend payout ratio of 97.62%.

Harvest Portfolios Group Inc. boosted its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,881 shares of the transportation company's stock after purchasing an additional 3,047 shares during the period. Harvest Portfolios Group Inc.'s holdings in United Parcel Service were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Potomac Fund Management Inc. ADV lifted its stake in United Parcel Service by 11.8% in the first quarter. Potomac Fund Management Inc. ADV now owns 10,585 shares of the transportation company's stock worth $1,164,000 after purchasing an additional 1,114 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in United Parcel Service in the first quarter worth about $590,000. Brooks Moore & Associates Inc. lifted its stake in United Parcel Service by 0.9% in the first quarter. Brooks Moore & Associates Inc. now owns 31,305 shares of the transportation company's stock worth $3,443,000 after purchasing an additional 265 shares during the last quarter. Islay Capital Management LLC bought a new stake in United Parcel Service in the first quarter worth about $2,285,000. Finally, Quantitative Investment Management LLC bought a new stake in United Parcel Service in the first quarter worth about $7,996,000. Institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Performance

Shares of UPS stock opened at $87.48 on Wednesday. The firm has a market cap of $74.15 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.61 and a beta of 1.12. The company's 50 day moving average is $95.38 and its 200 day moving average is $101.57. 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, Inc. has a 52-week low of $84.28 and a 52-week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued 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 business had revenue of $21.20 billion for 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%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 earnings per share. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

Insiders Place Their Bets

In other news, Director Christiana Smith Shi purchased 500 shares of the business's stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the acquisition, the director owned 500 shares of the company's stock, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Johnson purchased 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $86.50 per share, for a total transaction of $432,500.00. Following the completion of the acquisition, the director directly owned 10,160 shares of the company's stock, valued at approximately $878,840. The trade was a 96.90% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 17,182 shares of company stock valued at $1,477,382. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UPS has been the subject of several analyst reports. Evercore ISI decreased their price objective on shares of United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. Barclays decreased their price target on shares of 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. Galvan Research decreased their price target on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Oppenheimer decreased their price target on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, Bernstein Bank lifted their price target on shares of United Parcel Service from $132.00 to $133.00 in a research note on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $112.81.

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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