Oppenheimer Asset Management Inc. Buys 60,370 Shares of United Parcel Service, Inc. $UPS

Oppenheimer Asset Management Inc. boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 28.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,177 shares of the transportation company’s stock after purchasing an additional 60,370 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in United Parcel Service were worth $27,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Founders Capital Management LLC boosted its position in United Parcel Service by 8.3% during the second quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock valued at $11,245,000 after purchasing an additional 8,579 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in United Parcel Service in the first quarter valued at about $620,000. Capital CS Group LLC raised its stake in United Parcel Service by 3.6% in the second quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock valued at $23,730,000 after buying an additional 8,070 shares during the last quarter. CX Institutional raised its stake in United Parcel Service by 39.9% in the second quarter. CX Institutional now owns 60,165 shares of the transportation company’s stock valued at $6,073,000 after buying an additional 17,152 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of United Parcel Service by 20.1% in the second quarter. Stephens Inc. AR now owns 90,368 shares of the transportation company’s stock worth $9,122,000 after purchasing an additional 15,135 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 0.2%

Shares of UPS opened at $87.21 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $140.33. The stock has a market capitalization of $73.91 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.62 and a beta of 1.10. The stock has a 50 day moving average price of $85.52 and a 200 day moving average price of $93.18.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.79 earnings per share. Equities research analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.5%. United Parcel Service’s payout ratio is currently 97.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on UPS shares. Wolfe Research reduced their price objective on United Parcel Service from $113.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, July 1st. Barclays reduced their price target on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, July 31st. Truist Financial lowered their price target on shares of United Parcel Service from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of United Parcel Service from $100.00 to $88.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Finally, Stifel Nicolaus lowered their price target on shares of United Parcel Service from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $109.31.

Insider Buying and Selling at United Parcel Service

In other United Parcel Service news, Director Christiana Smith Shi bought 500 shares of United Parcel Service stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the transaction, the director directly owned 500 shares of the company’s stock, valued at $44,085. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Carol B. Tome bought 11,682 shares of United Parcel Service stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the transaction, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock worth $1,477,382 over the last quarter. 0.13% of the stock is currently owned by company insiders.

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.