Ridgecrest Wealth Partners LLC Makes New $218,000 Investment in United Parcel Service, Inc. (NYSE:UPS)

Ridgecrest Wealth Partners LLC bought a new stake in United Parcel Service, Inc. (NYSE:UPS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,980 shares of the transportation company’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altus Wealth Group LLC increased its position in United Parcel Service by 4.6% during the fourth quarter. Altus Wealth Group LLC now owns 2,022 shares of the transportation company’s stock worth $255,000 after acquiring an additional 89 shares during the period. Colonial Trust Co SC boosted its holdings in United Parcel Service by 1.4% in the 4th quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company’s stock valued at $911,000 after purchasing an additional 98 shares during the period. Juncture Wealth Strategies LLC grew its position in shares of United Parcel Service by 2.5% during the 1st quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company’s stock worth $454,000 after purchasing an additional 101 shares in the last quarter. Cohen & Steers Inc. increased its holdings in shares of United Parcel Service by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,054 shares of the transportation company’s stock worth $259,000 after purchasing an additional 104 shares during the period. Finally, Diligent Investors LLC raised its position in shares of United Parcel Service by 1.7% in the fourth quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company’s stock valued at $848,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UPS. Truist Financial lowered their price objective on United Parcel Service from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Susquehanna decreased their price target on United Parcel Service from $120.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Barclays dropped their price target on United Parcel Service from $100.00 to $90.00 and set an “underweight” rating for the company in a research note on Monday, March 31st. Oppenheimer reduced their price objective on shares of United Parcel Service from $126.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group decreased their target price on shares of United Parcel Service from $141.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $120.26.

United Parcel Service Trading Up 0.2%

Shares of UPS stock opened at $99.36 on Monday. United Parcel Service, Inc. has a twelve month low of $90.55 and a twelve month high of $148.15. The stock’s fifty day simple moving average is $97.77 and its 200 day simple moving average is $111.42. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $84.14 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.74 and a beta of 1.22.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.11. The company had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $21.25 billion. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, sell-side analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 6.60%. The ex-dividend date was Monday, May 19th. United Parcel Service’s dividend payout ratio (DPR) is currently 95.63%.

About United Parcel Service

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.