United Parcel Service, Inc. (NYSE:UPS) Stock Position Boosted by Westpac Banking Corp

Key Points

• Westpac Banking Corp significantly increased its stake in United Parcel Service (UPS) by 134.0% in the first quarter, now owning over 12,273 shares valued at approximately $1.35 million.
• Institutional ownership of UPS is strong, with 60.26% of the stock held by hedge funds and other institutional investors, reflecting widespread confidence in the company.
• UPS recently declared a quarterly dividend of $1.64 per share, which yields 7.5%, signaling a commitment to returning value to shareholders despite a slight decline in year-over-year revenue.

Westpac Banking Corp raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 134.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,273 shares of the transportation company's stock after buying an additional 7,029 shares during the period. Westpac Banking Corp's holdings in United Parcel Service were worth $1,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in shares of United Parcel Service by 124.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company's stock valued at $991,132,000 after purchasing an additional 4,988,044 shares during the period. Pacer Advisors Inc. boosted its stake in shares of United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock valued at $476,936,000 after purchasing an additional 3,961,255 shares during the period. Nuveen LLC purchased a new position in shares of United Parcel Service in the first quarter valued at $201,358,000. Charles Schwab Investment Management Inc. boosted its stake in shares of United Parcel Service by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company's stock valued at $2,754,751,000 after purchasing an additional 1,780,807 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of United Parcel Service in the fourth quarter valued at $145,846,000. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on UPS shares. Hsbc Global Res downgraded shares of United Parcel Service from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Redburn Atlantic decreased their target price on shares of United Parcel Service from $137.00 to $117.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company decreased their target price on shares of United Parcel Service from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. BNP Paribas upgraded shares of United Parcel Service to a "hold" rating in a research note on Thursday, July 3rd. Finally, Susquehanna decreased their target price on shares of United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and an average target price of $112.81.

United Parcel Service Stock Performance

Shares of UPS stock traded up $0.74 during trading hours on Wednesday, reaching $88.17. The stock had a trading volume of 13,583,232 shares, compared to its average volume of 8,590,222. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. United Parcel Service, Inc. has a twelve month low of $84.28 and a twelve month high of $145.01. The firm has a 50-day simple moving average of $97.59 and a 200-day simple moving average of $103.68. The firm has a market capitalization of $74.66 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.12.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data 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). 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 analyst estimates of $20.90 billion. During the same period last year, the business earned $1.79 EPS. The firm's revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is 97.62%.

Insider Transactions at United Parcel Service

In other news, Director William R. Johnson acquired 5,000 shares of the company's stock in a transaction that occurred on 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 directly owned 10,160 shares in the company, valued at approximately $878,840. The trade was a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction that occurred on 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 approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.

United Parcel Service 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.