Stonegate Investment Group LLC Purchases 401,887 Shares of United Parcel Service, Inc. (NYSE:UPS)

18 Oct 2024, 15:01 by Michael Walen · The Markets Daily

Stonegate Investment Group LLC lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS – Free Report) by 1,174.9% in the third quarter, HoldingsChannel.com reports. The fund owned 436,093 shares of the transportation company’s stock after acquiring an additional 401,887 shares during the quarter. United Parcel Service accounts for approximately 1.6% of Stonegate Investment Group LLC’s portfolio, making the stock its 28th largest position. Stonegate Investment Group LLC’s holdings in United Parcel Service were worth $59,457,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Clearbridge Investments LLC increased its position in shares of United Parcel Service by 6.5% in the first quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock valued at $991,556,000 after acquiring an additional 406,248 shares during the period. Bank of New York Mellon Corp increased its position in shares of United Parcel Service by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock valued at $888,254,000 after acquiring an additional 20,426 shares during the period. American Century Companies Inc. increased its position in shares of United Parcel Service by 10.5% in the second quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock valued at $567,157,000 after acquiring an additional 393,434 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of United Parcel Service by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock valued at $611,445,000 after buying an additional 101,349 shares during the period. Finally, Capital World Investors increased its position in shares of United Parcel Service by 9.6% during the first quarter. Capital World Investors now owns 3,011,299 shares of the transportation company’s stock valued at $447,569,000 after buying an additional 263,313 shares during the period. 60.26% of the stock is owned by institutional investors.

Insider Buying and Selling at United Parcel Service

In related news, Director William R. Johnson acquired 5,000 shares of the stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now directly owns 5,160 shares in the company, valued at approximately $663,627.60. This represents a 3,100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.13% of the stock is owned by corporate insiders.

United Parcel Service Price Performance

NYSE UPS traded up $0.10 on Friday, reaching $135.51. The company had a trading volume of 410,686 shares, compared to its average volume of 4,173,004. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $116.08 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The firm’s 50 day moving average price is $130.01 and its 200 day moving average price is $136.74. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $163.82.

United Parcel Service (NYSE:UPS – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.20). The company had revenue of $21.82 billion during the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. United Parcel Service’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $2.54 earnings per share. As a group, equities analysts predict that United Parcel Service, Inc. will post 7.43 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.81%. United Parcel Service’s dividend payout ratio (DPR) is 106.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on UPS shares. TD Cowen initiated coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 price target on the stock. Baird R W upgraded shares of United Parcel Service to a “strong-buy” rating in a report on Wednesday, July 24th. UBS Group cut their price target on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Stephens cut their price target on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their price target on shares of United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.24.

Read Our Latest Report on United Parcel Service

United Parcel Service Profile

(Free Report)

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.