Mirae Asset Global Investments Co. Ltd. Acquires 92,824 Shares of United Parcel Service, Inc. $UPS

Key Points

• Mirae Asset Global Investments increased its stake in United Parcel Service (UPS) by 13.4%, acquiring an additional 92,824 shares, bringing its total to approximately 783,656 shares valued at $79.1 million.
• A range of institutional investors, including Goldman Sachs and Pacer Advisors, significantly raised their holdings in UPS, with Goldman Sachs increasing its stake by 124% and Pacer Advisors by over 1,000% in the last quarter.
• Despite reporting a revenue rise to $21.2 billion in its latest earnings, UPS fell short of earnings expectations, reporting $1.55 EPS, missing the consensus estimate of $1.56.

Mirae Asset Global Investments Co. Ltd. grew its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 13.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 783,656 shares of the transportation company's stock after purchasing an additional 92,824 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of United Parcel Service worth $79,102,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UPS. Goldman Sachs Group Inc. raised its holdings in shares of United Parcel Service by 124.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after purchasing an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of United Parcel Service by 1,056.6% during the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after acquiring an additional 3,961,255 shares in the last quarter. Nuveen LLC bought a new position in shares of United Parcel Service during the 1st quarter worth approximately $201,358,000. Charles Schwab Investment Management Inc. raised its stake in shares of United Parcel Service by 7.7% during the 1st 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. Finally, Assenagon Asset Management S.A. raised its stake in shares of United Parcel Service by 443.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company's stock worth $156,453,000 after acquiring an additional 1,264,842 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Wall Street Analyst Weigh In

UPS has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Vertical Research reiterated a "hold" rating and set a $103.00 price objective on shares of United Parcel Service in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of United Parcel Service from $100.00 to $88.00 and set a "hold" rating for the company in a research note on Thursday. Citigroup reduced their price objective on shares of United Parcel Service from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Finally, Evercore ISI reduced 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $110.41.

United Parcel Service Trading Up 1.5%

Shares of United Parcel Service stock opened at $85.65 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $145.01. The firm has a market capitalization of $72.60 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.55 and a beta of 1.10. The firm's 50 day simple moving average is $86.54 and its two-hundred day simple moving average is $95.70.

United Parcel Service (NYSE:UPS - Get Free Report) last issued 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 net margin of 6.34% and a return on equity of 39.61%. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service's dividend payout ratio is 97.62%.

Insider Activity

In other United Parcel Service news, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William R. Johnson acquired 5,000 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was acquired 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 in the company, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock valued at $1,477,382 in the last ninety days. Insiders own 0.13% of the company's stock.

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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