Oppenheimer Asset Management Inc. Boosts Holdings in United Parcel Service, Inc. $UPS

Oppenheimer Asset Management Inc. boosted its holdings in United Parcel Service, Inc. (NYSE:UPS) by 28.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,177 shares of the transportation company’s stock after buying an additional 60,370 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in United Parcel Service were worth $27,776,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UPS. Goldman Sachs Group Inc. raised its position in United Parcel Service by 124.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock worth $991,132,000 after buying an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. raised its position in United Parcel Service by 1,056.6% in the 1st quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock worth $476,936,000 after buying an additional 3,961,255 shares during the last quarter. Nuveen LLC purchased a new position in United Parcel Service in the 1st quarter worth about $201,358,000. Charles Schwab Investment Management Inc. raised its position in United Parcel Service by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock worth $2,754,751,000 after buying an additional 1,780,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in United Parcel Service by 443.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock worth $156,453,000 after buying an additional 1,264,842 shares during the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Insider Activity at United Parcel Service

In related news, Director William R. Johnson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought 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 of the company’s stock, valued at approximately $878,840. This represents a 96.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christiana Smith Shi acquired 500 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $88.17 per share, for a total transaction of $44,085.00. Following the transaction, the director directly owned 500 shares in the company, valued at $44,085. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 17,182 shares of company stock worth $1,477,382. Company insiders own 0.13% of the company’s stock.

United Parcel Service Stock Performance

NYSE:UPS opened at $87.21 on Friday. The stock’s fifty day moving average is $85.52 and its 200 day moving average is $93.18. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $140.33. The firm has a market capitalization of $73.91 billion, a PE ratio of 12.98, a PEG ratio of 1.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $20.90 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 7.5%. The ex-dividend date was Monday, August 18th. United Parcel Service’s dividend payout ratio is presently 97.62%.

Analyst Ratings Changes

UPS has been the subject of a number of recent research reports. BNP Paribas upgraded United Parcel Service to a “hold” rating in a research note on Thursday, July 3rd. BMO Capital Markets reissued a “market perform” rating and issued a $96.00 price target (down from $125.00) on shares of United Parcel Service in a report on Friday, September 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of United Parcel Service in a report on Friday. Evercore ISI lowered their price target on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating on the stock in a report on Wednesday, July 30th. Finally, Truist Financial lowered their price target on United Parcel Service from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $109.31.

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.