Destination Wealth Management Purchases 20,424 Shares of United Parcel Service, Inc. $UPS

Destination Wealth Management increased its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 286.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 27,547 shares of the transportation company’s stock after purchasing an additional 20,424 shares during the quarter. Destination Wealth Management’s holdings in United Parcel Service were worth $2,732,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position 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 purchasing an additional 1,218,432 shares during the last quarter. State Street Corp increased its position in shares of United Parcel Service by 3.3% during the 4th quarter. State Street Corp now owns 32,092,627 shares of the transportation company’s stock valued at $3,183,268,000 after purchasing an additional 1,029,377 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United Parcel Service by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,142,759 shares of the transportation company’s stock valued at $2,692,290,000 after purchasing an additional 856,125 shares during the last quarter. Geode Capital Management LLC increased its position in shares of United Parcel Service by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 17,154,091 shares of the transportation company’s stock valued at $1,703,291,000 after purchasing an additional 240,253 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of United Parcel Service by 72.9% during the 4th quarter. Victory Capital Management Inc. now owns 13,818,314 shares of the transportation company’s stock valued at $1,370,639,000 after purchasing an additional 5,826,824 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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 Stock Performance

Shares of United Parcel Service stock opened at $107.96 on Friday. The stock’s fifty day moving average is $103.23 and its two-hundred day moving average is $104.06. The company has a market capitalization of $91.76 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.05. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.50. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $122.41.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.99 billion. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.United Parcel Service’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 EPS. As a group, analysts expect that United Parcel Service, Inc. will post 7.1 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were given a $1.64 dividend. 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 dividend payout ratio is 106.15%.

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.