SteelPeak Wealth LLC Lowers Position in United Parcel Service, Inc. $UPS

Key Points

• SteelPeak Wealth LLC has reduced its stake in United Parcel Service, Inc. by 72.2%, owning 12,701 shares now after selling 32,926 shares during Q2, valued at approximately $1.28 million.
• United Parcel Service recently reported $1.55 EPS for the quarter, which slightly missed analysts' expectations, and its revenue fell by 2.7% year-over-year to $21.20 billion.
• The company declared a quarterly dividend of $1.64 per share, resulting in an annualized yield of 7.6%, though its payout ratio stands at 97.62%.

SteelPeak Wealth LLC lessened its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 72.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,701 shares of the transportation company's stock after selling 32,926 shares during the period. SteelPeak Wealth LLC's holdings in United Parcel Service were worth $1,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bangor Savings Bank raised its position in shares of United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock worth $546,000 after buying an additional 101 shares in the last quarter. First Dallas Securities Inc. raised its position in shares of United Parcel Service by 0.9% in the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company's stock worth $1,256,000 after buying an additional 102 shares in the last quarter. TCV Trust & Wealth Management Inc. raised its position in shares of United Parcel Service by 1.4% in the first 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 in the last quarter. Fortis Capital Advisors LLC raised its position in shares of United Parcel Service by 3.4% in the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company's stock worth $350,000 after buying an additional 104 shares in the last quarter. Finally, Wright Investors Service Inc. raised its position in shares of United Parcel Service by 1.3% in the second quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company's stock worth $793,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Down 0.7%

Shares of NYSE:UPS opened at $86.01 on Wednesday. The stock's 50-day moving average price is $85.81 and its 200-day moving average price is $94.91. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $145.01. The stock has a market capitalization of $72.90 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. 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 (NYSE:UPS - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $20.90 billion. During the same period last year, the business posted $1.79 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is 97.62%.

Analysts Set New Price Targets

UPS has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price objective on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 30th. Vertical Research reissued a "hold" rating and issued a $103.00 target price on shares of United Parcel Service in a research note on Wednesday, July 30th. BNP Paribas Exane raised United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a research note on Thursday, July 3rd. Truist Financial reduced their target price on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on United Parcel Service from $100.00 to $88.00 and set a "hold" rating on the stock in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $110.16.

Insider Activity

In related news, Director Christiana Smith Shi acquired 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the purchase, the director owned 500 shares of the company's stock, valued at $44,085. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $85.67 per share, for a total transaction 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 approximately $2,117,591.06. The trade was a 89.61% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 17,182 shares of company stock valued at $1,477,382. 0.13% of the stock is currently owned by insiders.

United Parcel Service Company 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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