Park Place Capital Corp Has $1.17 Million Stock Position in United Parcel Service, Inc. $UPS

Key Points

• Park Place Capital Corp significantly increased its holdings in United Parcel Service, Inc. by 574.1% during Q2, bringing its total to 11,203 shares worth approximately $1.17 million.
• Several institutional investors, including Gleason Group and Raleigh Capital, also raised their stakes in UPS, with institutional ownership now comprising 60.26% of the company's stock.
• JPMorgan, Truist Financial, and other analysts have lowered their price targets for UPS, with the average target now at $111.38 and a consensus rating of "Hold."

Park Place Capital Corp lifted its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 574.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,203 shares of the transportation company's stock after buying an additional 9,541 shares during the quarter. Park Place Capital Corp's holdings in United Parcel Service were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Gleason Group Inc. lifted its stake in shares of United Parcel Service by 1.7% in the second quarter. Gleason Group Inc. now owns 6,864 shares of the transportation company's stock worth $693,000 after buying an additional 113 shares during the last quarter. Raleigh Capital Management Inc. increased its position in United Parcel Service by 2.9% during the second quarter. Raleigh Capital Management Inc. now owns 6,971 shares of the transportation company's stock worth $704,000 after acquiring an additional 195 shares during the period. Venture Visionary Partners LLC increased its position in United Parcel Service by 97.6% during the second quarter. Venture Visionary Partners LLC now owns 48,449 shares of the transportation company's stock worth $4,890,000 after acquiring an additional 23,935 shares during the period. Smith Chas P & Associates PA Cpas increased its position in United Parcel Service by 6.5% during the second quarter. Smith Chas P & Associates PA Cpas now owns 253,667 shares of the transportation company's stock worth $25,605,000 after acquiring an additional 15,465 shares during the period. Finally, Wolff Wiese Magana LLC increased its position in United Parcel Service by 5.4% during the second quarter. Wolff Wiese Magana LLC now owns 12,935 shares of the transportation company's stock worth $1,306,000 after acquiring an additional 658 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Truist Financial dropped 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 research report on Wednesday, July 30th. Galvan Research dropped their target price on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. Oppenheimer dropped their target price on shares of United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Finally, Susquehanna lowered their price target on shares of United Parcel Service from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $111.38.

United Parcel Service Stock Up 0.9%

UPS opened at $84.46 on Tuesday. The firm's 50-day simple moving average is $87.61 and its 200-day simple moving average is $96.09. 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 twelve month low of $82.00 and a twelve month high of $145.01. The firm has a market cap of $71.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.54 and a beta of 1.08.

United Parcel Service (NYSE:UPS - Get Free Report) last posted 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 return on equity of 39.61% and a net margin of 6.34%.The firm had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the previous year, the company posted $1.79 EPS. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.8%. United Parcel Service's dividend payout ratio is presently 97.62%.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the acquisition, the director owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carol B. Tome bought 11,682 shares of the stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer owned 24,718 shares in the company, valued at $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 17,182 shares of company stock valued at $1,477,382. 0.13% of the stock is owned by insiders.

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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