Victory Capital Management Inc. Grows Stake in United Parcel Service, Inc. $UPS

Victory Capital Management Inc. grew its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 72.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,818,314 shares of the transportation company’s stock after purchasing an additional 5,826,824 shares during the period. United Parcel Service makes up 0.8% of Victory Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Victory Capital Management Inc.’s holdings in United Parcel Service were worth $1,370,639,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Ieq Capital LLC grew its position in shares of United Parcel Service by 386.1% during the 4th quarter. Ieq Capital LLC now owns 297,057 shares of the transportation company’s stock valued at $29,465,000 after purchasing an additional 235,950 shares in the last quarter. First National Bank of Omaha grew its position in shares of United Parcel Service by 20.4% during the 4th quarter. First National Bank of Omaha now owns 52,673 shares of the transportation company’s stock valued at $5,229,000 after purchasing an additional 8,926 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of United Parcel Service during the 4th quarter valued at $255,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of United Parcel Service by 1.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,247,725 shares of the transportation company’s stock valued at $421,332,000 after purchasing an additional 51,751 shares in the last quarter. Finally, Korea Investment CORP grew its position in shares of United Parcel Service by 220.1% during the 4th quarter. Korea Investment CORP now owns 432,248 shares of the transportation company’s stock valued at $42,875,000 after purchasing an additional 297,228 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting United Parcel Service

Here are the key news stories impacting United Parcel Service this week:

• Positive Sentiment: UPS shares have been boosted by a broader bullish take on the stock after the Fed’s rate-cut pivot, with some investors viewing UPS as an attractive cyclical income play with a high dividend yield. A Dramatic Fed Pivot Just Unlocked a New Era of Growth for UPS
• Positive Sentiment: UPS-owned Roadie announced a same-day delivery partnership with Omaha Steaks ahead of Father’s Day, highlighting growth in its last-mile and same-day delivery services. From Cart to Cookout: Omaha Steaks and Roadie Power Same-Day Delivery for Father’s Day
• Neutral Sentiment: UPS was also the subject of valuation and stock-performance commentary, with some analysts questioning whether the recent pullback created a better long-term entry point rather than pointing to a new fundamental problem. Is It Time To Reconsider UPS (NYSE:UPS) After Recent Share Price Weakness?
• Neutral Sentiment: UPS met its deadline for retrofitting delivery vans with air conditioning, easing one labor-related pressure point after Teamsters scrutiny, though the issue also underscores ongoing union oversight. UPS meets deadline for retrofitting delivery vans with air conditioning
• Negative Sentiment: Separate UK news about a parcel delivery firm “evaluating options” for a depot closure and 3,000 jobs at risk adds to concerns about softness or restructuring pressures in the parcel-delivery industry, which could weigh on sentiment toward UPS. Massive parcel delivery firm could shut UK depot as it ‘evaluates options’ – with 3,000 jobs at risk
• Negative Sentiment: Some market commentary still frames UPS as a large-cap stock with limited growth runway, and recent coverage has also highlighted weakness in the shares over the past week. 3 Large-Cap Stocks That Concern Us

United Parcel Service Stock Down 0.6%

UPS opened at $107.96 on Friday. The stock has a market cap of $91.76 billion, a PE ratio of 17.47, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.50. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $122.41. The business’s fifty day simple moving average is $103.23 and its 200 day simple moving average is $104.06.

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

United Parcel Service Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.1%. The ex-dividend date was Monday, May 18th. United Parcel Service’s dividend payout ratio is presently 106.15%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group reduced their price target on shares of United Parcel Service from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Susquehanna increased their target price on United Parcel Service from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings cut United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Evercore reduced their target price on United Parcel Service from $115.00 to $113.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 22nd. Finally, Citigroup increased their target price on United Parcel Service from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $111.50.

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.