United Parcel Service, Inc. $UPS Holdings Boosted by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in United Parcel Service during the fourth quarter, buying an additional 27,578 shares to bring its total holding to 53,556 shares worth about $5.3 million.
• UPS reported quarterly earnings of $1.07 per share, beating analyst estimates, while revenue came in at $21.20 billion, slightly above expectations but down 1.4% from a year earlier.
• The company declared a quarterly dividend of $1.64 per share, which annualizes to $6.56 and implies a 6.4% yield; meanwhile, analysts currently rate the stock a consensus Hold with an average price target of $111.50.

Allstate Corp boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 106.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,556 shares of the transportation company's stock after purchasing an additional 27,578 shares during the period. Allstate Corp's holdings in United Parcel Service were worth $5,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of United Parcel Service by 507.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,244,234 shares of the transportation company's stock valued at $321,796,000 after acquiring an additional 2,710,470 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of United Parcel Service during the 4th quarter valued at $181,951,000. Vanguard Group Inc. grew its holdings in shares of United Parcel Service by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 68,496,420 shares of the transportation company's stock valued at $6,794,160,000 after acquiring an additional 1,218,432 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of United Parcel Service by 94.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,300,081 shares of the transportation company's stock valued at $231,388,000 after acquiring an additional 1,119,372 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of United Parcel Service by 17.3% during the 3rd quarter. Invesco Ltd. now owns 6,724,265 shares of the transportation company's stock valued at $561,678,000 after acquiring an additional 993,461 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Trading Up 1.0%

NYSE:UPS opened at $102.01 on Wednesday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The firm has a market cap of $86.71 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.61 and a beta of 1.06. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.50. The company's 50 day moving average is $100.50 and its 200-day moving average is $102.90.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.05. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that United Parcel Service, Inc. will post 7.1 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Monday, May 18th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, May 18th. United Parcel Service's dividend payout ratio is 106.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup boosted their price target on shares of United Parcel Service from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. HSBC upgraded shares of United Parcel Service from a "hold" rating to a "buy" rating in a report on Wednesday, January 28th. Oppenheimer boosted their price target on shares of United Parcel Service from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. boosted their price target on shares of United Parcel Service from $99.00 to $107.00 and gave the company a "neutral" rating in a report on Wednesday, January 28th. Finally, BMO Capital Markets upped their price objective on shares of United Parcel Service from $105.00 to $110.00 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and an average price target of $111.50.

United Parcel Service Company Profile

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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