United Parcel Service, Inc. (NYSE:UPS) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Posted by on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of United Parcel Service, Inc. (NYSE:UPS – Get Rating) by 45.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,391 shares of the transportation company’s stock after buying an additional 746 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in United Parcel Service were worth $386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of United Parcel Service by 0.6% during the 2nd quarter. Northern Trust Corp now owns 9,330,255 shares of the transportation company’s stock worth $1,703,145,000 after purchasing an additional 56,838 shares during the period. Franklin Resources Inc. raised its position in shares of United Parcel Service by 27.0% during the 2nd quarter. Franklin Resources Inc. now owns 6,412,452 shares of the transportation company’s stock worth $1,170,529,000 after purchasing an additional 1,362,612 shares during the period. Legal & General Group Plc raised its position in shares of United Parcel Service by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 4,900,322 shares of the transportation company’s stock worth $894,509,000 after purchasing an additional 157,479 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of United Parcel Service by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,163,287 shares of the transportation company’s stock worth $892,858,000 after purchasing an additional 93,463 shares during the period. Finally, Swiss National Bank raised its position in shares of United Parcel Service by 0.6% during the 2nd quarter. Swiss National Bank now owns 3,177,718 shares of the transportation company’s stock worth $580,061,000 after purchasing an additional 19,500 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets increased their price target on United Parcel Service from $175.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 1st. Cowen raised their target price on United Parcel Service from $187.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, February 1st. Oppenheimer raised their target price on United Parcel Service from $196.00 to $199.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft upgraded United Parcel Service from a “hold” rating to a “buy” rating and raised their target price for the company from $197.00 to $220.00 in a research report on Monday, November 28th. Finally, Credit Suisse Group set a $206.00 target price on United Parcel Service in a research report on Wednesday, February 22nd. Four analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, United Parcel Service has an average rating of “Hold” and a consensus target price of $195.48.

Insider Buying and Selling

In related news, insider Laura J. Lane sold 14,617 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $178.16, for a total transaction of $2,604,164.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other United Parcel Service news, insider Laura J. Lane sold 14,617 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $178.16, for a total transaction of $2,604,164.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian Newman sold 19,000 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $182.46, for a total value of $3,466,740.00. Following the transaction, the chief financial officer now owns 11,677 shares in the company, valued at $2,130,585.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,341 shares of company stock worth $9,848,061. Corporate insiders own 0.12% of the company’s stock.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $183.08 on Thursday. The stock has a market cap of $158.35 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The business has a fifty day simple moving average of $180.96 and a 200-day simple moving average of $179.90. 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, Inc. has a 12 month low of $154.87 and a 12 month high of $223.97.

United Parcel Service (NYSE:UPS – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The transportation company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.59 by $0.03. United Parcel Service had a return on equity of 66.10% and a net margin of 11.51%. The business had revenue of $27 billion during the quarter, compared to analyst estimates of $28.03 billion. During the same period last year, the company earned $3.59 earnings per share. United Parcel Service’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 11.58 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Tuesday, February 21st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.54%. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.52. The ex-dividend date is Friday, February 17th. United Parcel Service’s dividend payout ratio (DPR) is currently 49.09%.

United Parcel Service announced that its Board of Directors has initiated a stock buyback plan on Tuesday, January 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

About United Parcel Service

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United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.

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Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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