Parallel Advisors LLC Has $1.98 Million Stock Position in United Parcel Service, Inc. $UPS

Key Points

• Parallel Advisors LLC increased its stake in United Parcel Service, Inc. (UPS) by 21.4%, now holding 19,609 shares valued at approximately $1.98 million.
• Institutional investors collectively own 60.26% of UPS stock, with Goldman Sachs and Pacer Advisors significantly increasing their positions by 124.0% and 1,056.6%, respectively.
• UPS recently declared a quarterly dividend of $1.64 per share, translating to an annualized yield of 7.7%, amidst a challenging earnings report that showed a decline in revenue year-over-year.

Parallel Advisors LLC grew its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 21.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,609 shares of the transportation company's stock after purchasing an additional 3,457 shares during the period. Parallel Advisors LLC's holdings in United Parcel Service were worth $1,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UPS. Goldman Sachs Group Inc. grew its position in shares of United Parcel Service by 124.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock worth $991,132,000 after purchasing an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. grew its position 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 purchasing an additional 3,961,255 shares in the last quarter. Nuveen LLC acquired a new position in shares of United Parcel Service during the 1st quarter worth approximately $201,358,000. Charles Schwab Investment Management Inc. grew its position 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 purchasing an additional 1,780,807 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of United Parcel Service by 582.0% during the 1st quarter. AQR Capital Management LLC now owns 1,180,709 shares of the transportation company's stock worth $128,886,000 after purchasing an additional 1,007,585 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

Analyst Ratings Changes

UPS has been the topic of a number of analyst reports. Bank of America restated an "underperform" rating and set a $83.00 target price (down previously from $91.00) on shares of United Parcel Service in a research report on Thursday, September 11th. BNP Paribas Exane upgraded shares of United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research report on Thursday, July 3rd. Wells Fargo & Company reduced their price target on shares of United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Truist Financial reduced their price target on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of United Parcel Service from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $112.34.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $85.19 on Wednesday. The firm has a market cap of $72.20 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. The firm's fifty day moving average is $90.54 and its 200-day moving average is $98.37. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The business had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.United Parcel Service's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.79 EPS. Sell-side analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

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

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price 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. This represents a 96.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christiana Smith Shi bought 500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $88.17 per share, for a total transaction of $44,085.00. Following 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 17,182 shares of company stock worth $1,477,382. Company insiders own 0.13% of the company's stock.

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.

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