Kingsview Wealth Management LLC Has $6.16 Million Position in United Parcel Service, Inc. (NYSE:UPS)

Financial News Live · Mar 12, 2023 23:43

Kingsview Wealth Management LLC boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS – Get Rating) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,135 shares of the transportation company's stock after purchasing an additional 3,428 shares during the period. Kingsview Wealth Management LLC's holdings in United Parcel Service were worth $6,160,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Mather Group LLC. boosted its position in United Parcel Service by 237.4% during the third quarter. Mather Group LLC. now owns 29,195 shares of the transportation company's stock valued at $4,716,000 after purchasing an additional 20,542 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in United Parcel Service by 14.8% during the third quarter. Meiji Yasuda Life Insurance Co now owns 14,971 shares of the transportation company's stock valued at $2,418,000 after purchasing an additional 1,929 shares during the last quarter. Oakview Capital Management L.P. boosted its position in United Parcel Service by 21.9% during the third quarter. Oakview Capital Management L.P. now owns 98,622 shares of the transportation company's stock valued at $15,931,000 after purchasing an additional 17,693 shares during the last quarter. Truvestments Capital LLC boosted its position in United Parcel Service by 5.0% during the third quarter. Truvestments Capital LLC now owns 14,590 shares of the transportation company's stock valued at $2,357,000 after purchasing an additional 691 shares during the last quarter. Finally, United Services Automobile Association boosted its position in United Parcel Service by 0.7% during the third quarter. United Services Automobile Association now owns 234,806 shares of the transportation company's stock valued at $37,932,000 after purchasing an additional 1,712 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

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United Parcel Service Price Performance

Shares of UPS stock traded down $1.34 during trading hours on Friday, reaching $181.54. The company's stock had a trading volume of 3,442,847 shares, compared to its average volume of 2,448,029. The firm's 50 day simple moving average is $182.14 and its 200-day simple moving average is $178.81. The company has a market capitalization of $155.90 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 2.17 and a beta of 1.08. United Parcel Service, Inc. has a fifty-two week low of $154.87 and a fifty-two week high of $223.97. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.87.

United Parcel Service (NYSE:UPS – Get Rating) last issued its earnings results on Tuesday, January 31st. The transportation company reported $3.62 earnings per share for the quarter, beating analysts' consensus estimates of $3.59 by $0.03. The firm had revenue of $27 billion for the quarter, compared to the consensus estimate of $28.03 billion. United Parcel Service had a return on equity of 66.10% and a net margin of 11.51%. The company's revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.59 EPS. Sell-side analysts forecast that United Parcel Service, Inc. will post 11.5 earnings per share for the current year.

United Parcel Service announced that its board has authorized a stock buyback plan on Tuesday, January 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

United Parcel Service Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 21st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Friday, February 17th. This is an increase from United Parcel Service's previous quarterly dividend of $1.52. United Parcel Service's dividend payout ratio (DPR) is currently 49.09%.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, insider Laura J. Lane sold 14,617 shares of the firm's stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $178.16, for a total value of $2,604,164.72. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Norman M. Brothers, Jr. sold 20,724 shares of the firm's stock in a transaction on Friday, February 17th. The stock was sold at an average price of $182.26, for a total transaction of $3,777,156.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura J. Lane sold 14,617 shares of the firm's stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $178.16, for a total value of $2,604,164.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,341 shares of company stock valued at $9,848,061. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on UPS. Exane BNP Paribas lowered United Parcel Service from a "neutral" rating to an "underperform" rating in a research note on Wednesday, November 30th. Susquehanna upped their price objective on United Parcel Service from $165.00 to $180.00 in a research note on Wednesday, February 1st. UBS Group set a $196.00 price objective on United Parcel Service in a research note on Wednesday, February 1st. BMO Capital Markets upped their price objective on United Parcel Service from $175.00 to $185.00 and gave the company a "market perform" rating in a research note on Wednesday, February 1st. Finally, Oppenheimer upped their price objective on United Parcel Service from $196.00 to $199.00 and gave the company an "outperform" rating in a research note on Wednesday, February 1st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $193.54.

United Parcel Service Profile

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United Parcel Service, Inc is a package delivery company, which engages in the provision of global supply chain management solutions. It operates through the following segments: U.S. Domestic Package, International Package, and Supply Chain Solutions. The U.S. Domestic Package segment includes time-definite delivery of letters, documents, and packages.