United Parcel Service, Inc. $UPS Shares Sold by Cullen Capital Management LLC

Key Points

• Cullen Capital Management reduced its UPS stake by 22.5% in the fourth quarter, selling 313,811 shares and leaving it with 1,081,467 shares worth about $107.3 million.
• UPS reported better-than-expected quarterly earnings of $1.07 per share versus $1.02 expected, while revenue came in at $21.2 billion, slightly above estimates but down 1.4% year over year.
• The stock remains a Hold on average among Wall Street analysts, with a consensus price target of $111.50, while UPS also pays a hefty quarterly dividend that annualizes to $6.56 per share for a 6.1% yield.

Cullen Capital Management LLC decreased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,081,467 shares of the transportation company's stock after selling 313,811 shares during the quarter. Cullen Capital Management LLC owned about 0.13% of United Parcel Service worth $107,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shrier Wealth Management LLC acquired a new stake in United Parcel Service during the fourth quarter worth $1,099,000. Victory Capital Management Inc. increased its stake in United Parcel Service by 10.5% during the third quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company's stock worth $667,109,000 after acquiring an additional 761,217 shares during the last quarter. Bank of New York Mellon Corp increased its stake in United Parcel Service by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,541,742 shares of the transportation company's stock worth $450,495,000 after acquiring an additional 65,652 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its stake in United Parcel Service by 192.7% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 19,734 shares of the transportation company's stock worth $1,957,000 after acquiring an additional 12,993 shares during the last quarter. Finally, CWM LLC grew its stake in shares of United Parcel Service by 49.4% in the fourth quarter. CWM LLC now owns 297,357 shares of the transportation company's stock valued at $29,495,000 after buying an additional 98,309 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on UPS. UBS Group cut their price objective on United Parcel Service from $125.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Susquehanna boosted their price objective on United Parcel Service from $116.00 to $118.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Citigroup boosted their price objective on United Parcel Service from $118.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Evercore cut their price objective on United Parcel Service from $115.00 to $113.00 and set an "in-line" rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded United Parcel Service from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, United Parcel Service presently has an average rating of "Hold" and a consensus target price of $111.50.

United Parcel Service Price Performance

UPS stock opened at $107.96 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $91.76 billion, a PE ratio of 17.47, a P/E/G ratio of 1.73 and a beta of 1.05. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $122.41. The business's fifty day moving average price is $103.23 and its 200 day moving average price is $104.06.

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

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Monday, May 18th. United Parcel Service's payout ratio is presently 106.15%.

United Parcel Service News Roundup

Here are the key news stories impacting United Parcel Service this week:

• Positive Sentiment: UPS shares have been boosted by a broader bullish take on the stock after the Fed’s rate-cut pivot, with some investors viewing UPS as an attractive cyclical income play with a high dividend yield. A Dramatic Fed Pivot Just Unlocked a New Era of Growth for UPS
• Positive Sentiment: UPS-owned Roadie announced a same-day delivery partnership with Omaha Steaks ahead of Father’s Day, highlighting growth in its last-mile and same-day delivery services. From Cart to Cookout: Omaha Steaks and Roadie Power Same-Day Delivery for Father’s Day
• Neutral Sentiment: UPS was also the subject of valuation and stock-performance commentary, with some analysts questioning whether the recent pullback created a better long-term entry point rather than pointing to a new fundamental problem. Is It Time To Reconsider UPS NYSE: UPS After Recent Share Price Weakness?
• Neutral Sentiment: UPS met its deadline for retrofitting delivery vans with air conditioning, easing one labor-related pressure point after Teamsters scrutiny, though the issue also underscores ongoing union oversight. UPS meets deadline for retrofitting delivery vans with air conditioning
• Negative Sentiment: Separate UK news about a parcel delivery firm “evaluating options” for a depot closure and 3,000 jobs at risk adds to concerns about softness or restructuring pressures in the parcel-delivery industry, which could weigh on sentiment toward UPS. Massive parcel delivery firm could shut UK depot as it ‘evaluates options’ – with 3,000 jobs at risk
• Negative Sentiment: Some market commentary still frames UPS as a large-cap stock with limited growth runway, and recent coverage has also highlighted weakness in the shares over the past week. 3 Large-Cap Stocks That Concern Us

United Parcel Service 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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