Kentucky Retirement Systems acquired a new position in United Parcel Service, Inc. (NYSE:UPS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,120 shares of the transportation company’s stock, valued at approximately $8,760,000.
A number of other institutional investors and hedge funds have also modified their holdings of UPS. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of United Parcel Service during the 2nd quarter worth approximately $21,208,000. Tobam grew its holdings in United Parcel Service by 28.9% in the second quarter. Tobam now owns 74,922 shares of the transportation company’s stock worth $15,582,000 after purchasing an additional 16,778 shares during the period. Acadian Asset Management LLC grew its holdings in United Parcel Service by 238.7% in the first quarter. Acadian Asset Management LLC now owns 172,386 shares of the transportation company’s stock worth $29,304,000 after purchasing an additional 121,487 shares during the period. Clark Capital Management Group Inc. grew its holdings in United Parcel Service by 603.7% in the second quarter. Clark Capital Management Group Inc. now owns 21,584 shares of the transportation company’s stock worth $4,489,000 after purchasing an additional 18,517 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in United Parcel Service by 4.7% in the second quarter. Congress Asset Management Co. MA now owns 53,590 shares of the transportation company’s stock worth $11,145,000 after purchasing an additional 2,426 shares during the period. 56.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on UPS shares. Zacks Investment Research cut shares of United Parcel Service from a “buy” rating to a “hold” rating and set a $217.00 price target for the company. in a report on Tuesday, June 29th. Raymond James raised their price target on shares of United Parcel Service from $223.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Friday, June 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of United Parcel Service from $260.00 to $237.00 and set a “buy” rating for the company in a report on Thursday, June 10th. Morgan Stanley raised their price target on shares of United Parcel Service from $120.00 to $130.00 and gave the stock an “underweight” rating in a report on Thursday, June 10th. Finally, Credit Suisse Group reduced their price target on shares of United Parcel Service from $261.00 to $240.00 and set an “outperform” rating for the company in a report on Wednesday, July 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $206.78.
United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 27th. The transportation company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.81 by $0.25. The business had revenue of $23.42 billion for the quarter, compared to analyst estimates of $23.17 billion. United Parcel Service had a net margin of 6.66% and a return on equity of 155.54%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. Equities analysts anticipate that United Parcel Service, Inc. will post 11.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 23rd were paid a $1.02 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. United Parcel Service’s payout ratio is 49.57%.
United Parcel Service declared that its board has authorized a stock repurchase program on Thursday, August 5th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
United Parcel Service Profile
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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