Strs Ohio Purchases New Holdings in United Parcel Service, Inc. $UPS

Key Points

• Strs Ohio purchased a new stake in United Parcel Service (UPS) during the first quarter, acquiring 333,099 shares valued at approximately $36.6 million.
• Several institutional investors have also modified their holdings in UPS, with some making significant increases, leading to institutional ownership at 60.26% of the company's stock.
• Analysts have generally downgraded price targets for UPS, with the current consensus target price at $112.34, but the stock still maintains an average rating of "Hold."

Strs Ohio purchased a new stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 333,099 shares of the transportation company's stock, valued at approximately $36,638,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in shares of United Parcel Service in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in United Parcel Service in the fourth quarter valued at approximately $28,000. Graybill Wealth Management LTD. bought a new position in United Parcel Service in the first quarter valued at approximately $26,000. Citizens National Bank Trust Department boosted its stake in United Parcel Service by 525.0% in the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock valued at $27,000 after acquiring an additional 210 shares during the last quarter. Finally, Hemington Wealth Management lifted its stake in shares of United Parcel Service by 68.9% in the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock valued at $31,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UPS. Wolfe Research cut their price target on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 1st. Truist Financial cut their price target 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. Stifel Nicolaus cut their price target on United Parcel Service from $124.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Citigroup cut their price target on United Parcel Service from $127.00 to $114.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, Barclays cut their price target on United Parcel Service from $90.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, United Parcel Service has an average rating of "Hold" and a consensus target price of $112.34.

United Parcel Service Trading Up 0.9%

Shares of NYSE UPS opened at $84.64 on Friday. The company's fifty day moving average is $91.62 and its 200-day moving average is $99.19. The stock has a market cap of $71.74 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.54 and a beta of 1.08. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month 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.

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

United Parcel Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders 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 yield of 7.8%. The ex-dividend date was Monday, August 18th. United Parcel Service's dividend payout ratio is 97.62%.

Insiders Place Their Bets

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the acquisition, the director owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christiana Smith Shi bought 500 shares of the stock in a transaction on Friday, August 22nd. The shares were purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the acquisition, the director owned 500 shares in the company, valued at approximately $44,085. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 17,182 shares of company stock worth $1,477,382. Corporate insiders own 0.13% of the company's stock.

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.

Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.