Norinchukin Bank The Has $4.36 Million Position in United Parcel Service, Inc. $UPS

Key Points

• Norinchukin Bank has increased its stake in United Parcel Service (UPS) by 15.9%, bringing its total holdings to 39,599 shares worth approximately $4.36 million.
• Several major institutional investors, including Goldman Sachs Group Inc., have significantly increased their positions in UPS, with Goldman Sachs raising its stake by 124%.
• UPS announced a quarterly dividend of $1.64 per share, reflecting an annualized yield of 7.6%, while the company reported revenue of $21.20 billion for the last quarter.

Norinchukin Bank The raised its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,599 shares of the transportation company's stock after buying an additional 5,418 shares during the quarter. Norinchukin Bank The's holdings in United Parcel Service were worth $4,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position 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. boosted its holdings in United Parcel Service by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 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 during the period. Northern Trust Corp boosted its holdings in United Parcel Service by 0.3% in the 1st quarter. Northern Trust Corp now owns 7,415,523 shares of the transportation company's stock valued at $815,633,000 after purchasing an additional 23,918 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of United Parcel Service by 19.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company's stock valued at $815,102,000 after buying an additional 1,064,293 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

UPS has been the topic of a number of research reports. Bernstein Bank boosted their target price on shares of United Parcel Service from $132.00 to $133.00 in a report on Wednesday, April 30th. Truist Financial reduced their target price on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Galvan Research decreased their price objective on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating for the company in a research report on Monday, June 30th. Argus dropped their price objective on shares of United Parcel Service from $150.00 to $120.00 in a research note on Friday, May 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of United Parcel Service from $150.00 to $130.00 in a research note on Wednesday, April 30th. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $112.81.

Insider Buying and Selling

In other news, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the completion of the purchase, the chief executive officer directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Johnson acquired 5,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were purchased at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares of the company's stock, valued at $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

United Parcel Service Trading Down 0.9%

NYSE:UPS opened at $86.1620 on Friday. The company has a fifty day moving average of $96.11 and a 200 day moving average of $102.16. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week 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. The firm has a market capitalization of $73.03 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.60 and a beta of 1.12.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate 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 company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter last year, the company posted $1.79 earnings per share. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

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 $1.64 dividend. 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 7.6%. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

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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