Legato Capital Management LLC Buys New Stake in United Parcel Service, Inc. $UPS

Legato Capital Management LLC purchased a new position in United Parcel Service, Inc. (NYSE:UPS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the transportation company’s stock, valued at approximately $2,480,000.

A number of other hedge funds also recently bought and sold shares of UPS. Vanguard Group Inc. raised 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 buying an additional 1,218,432 shares in the last quarter. State Street Corp grew its position in United Parcel Service by 0.9% in the third quarter. State Street Corp now owns 31,063,250 shares of the transportation company’s stock worth $2,594,713,000 after acquiring an additional 288,720 shares in the last quarter. Victory Capital Management Inc. increased its stake in United Parcel Service by 10.5% during the third quarter. Victory Capital Management Inc. now owns 7,991,490 shares of the transportation company’s stock worth $667,109,000 after acquiring an additional 761,217 shares during the last quarter. Invesco Ltd. raised its position in United Parcel Service by 17.3% during the third quarter. Invesco Ltd. now owns 6,724,265 shares of the transportation company’s stock valued at $561,678,000 after purchasing an additional 993,461 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in United Parcel Service by 10.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,072,282 shares of the transportation company’s stock valued at $423,746,000 after purchasing an additional 486,384 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on UPS shares. Truist Financial lifted their target price on United Parcel Service from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Evercore lowered their price target on United Parcel Service from $115.00 to $113.00 and set an “in-line” rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings lowered shares of United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Stephens boosted their price objective on shares of United Parcel Service from $113.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of United Parcel Service from $99.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $111.50.

United Parcel Service Stock Performance

UPS stock opened at $101.12 on Friday. United Parcel Service, Inc. has a 1-year low of $82.00 and a 1-year high of $122.41. The business has a 50-day moving average price of $100.34 and a 200 day moving average price of $102.72. The company has a market capitalization of $85.96 billion, a P/E ratio of 16.36, a PEG ratio of 1.56 and a beta of 1.06. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.21 and a quick ratio of 1.21.

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

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Monday, May 18th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, May 18th. United Parcel Service’s dividend payout ratio is presently 106.15%.

United Parcel Service Company 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.