Maridea Wealth Management LLC Purchases New Stake in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Maridea Wealth Management LLC acquired a new position in United Parcel Service, purchasing 6,248 shares valued at approximately $687,000 in the first quarter.
• United Parcel Service reported $1.49** earnings per share (EPS) for the last quarter, exceeding the consensus estimate of $1.38, with revenue reaching $21.50 billion.
• The company's recent dividend announcement included a quarterly dividend of $1.64 per share, resulting in an annualized dividend yield of 6.33%.

Maridea Wealth Management LLC acquired a new position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,248 shares of the transportation company's stock, valued at approximately $687,000.

Several other hedge funds and other institutional investors also recently modified their holdings of UPS. Colonial Trust Co SC increased its stake in United Parcel Service by 1.4% in the 4th quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company's stock worth $911,000 after acquiring an additional 98 shares during the last quarter. Juncture Wealth Strategies LLC boosted its holdings in United Parcel Service by 2.5% during the 1st quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock valued at $454,000 after acquiring an additional 101 shares during the period. TCV Trust & Wealth Management Inc. lifted its holdings in shares of United Parcel Service by 1.4% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company's stock worth $830,000 after buying an additional 103 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of United Parcel Service by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,054 shares of the transportation company's stock worth $259,000 after buying an additional 104 shares during the period. Finally, Diligent Investors LLC increased its position in United Parcel Service by 1.7% during the 4th quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company's stock valued at $848,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Price Performance

Shares of NYSE UPS traded down $0.79 during midday trading on Thursday, hitting $86.39. The stock had a trading volume of 9,511,799 shares, compared to its average volume of 6,185,500. The company has a market capitalization of $73.15 billion, a PE ratio of 12.87, a P/E/G ratio of 1.75 and a beta of 1.21. The stock has a 50 day simple moving average of $99.75 and a 200-day simple moving average of $106.69. United Parcel Service, Inc. has a 1 year low of $85.76 and a 1 year high of $145.01. The company has a quick ratio of 1.09, 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 earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. During the same quarter last year, the business earned $1.79 EPS. The business's revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 7.59%. United Parcel Service's dividend payout ratio is presently 97.62%.

Analyst Ratings Changes

Several research analysts recently issued reports on UPS shares. UBS Group reduced their target price on United Parcel Service from $124.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday. Stifel Nicolaus reduced their target price on United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday. Daiwa America reduced their target price on United Parcel Service from $120.00 to $103.00 in a research report on Wednesday, April 30th. Wolfe Research reduced their target price on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. Finally, Bank of America reiterated a "neutral" rating and set a $98.00 price target on shares of United Parcel Service in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $113.38.

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.