On September 26, 2023, it was reported that KCS Wealth Advisory had decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 36.3% during the second quarter. According to the filing made with the Securities and Exchange Commission (SEC), the institutional investor now owns 1,158 shares of UPS after selling 661 shares during the period. The value of KCS Wealth Advisory’s holdings in United Parcel Service is estimated at $208,000 based on its most recent SEC filing.
United Parcel Service recently announced its quarterly earnings results on August 8th. The transportation company reported earnings per share (EPS) of $2.54 for the quarter, surpassing analysts’ consensus estimates of $2.49 by $0.05. However, UPS recorded a decline in revenue with $22.10 billion generated for the quarter compared to the consensus estimate of $23.04 billion.
Despite lower revenue figures, United Parcel Service maintained a return on equity of 51.28% and a net margin of 10.41%. It is worth noting that the company’s quarterly revenue experienced a decrease of 10.9% compared to the same period last year when it posted earnings per share of $3.29.
Equities research analysts predict that United Parcel Service, Inc.’s earnings per share for the current year will amount to approximately $9.46.
The decrease in holdings by KCS Wealth Advisory indicates a shift in their investment strategy regarding United Parcel Service stock. While only time will reveal their rationale behind this decision, investors may want to closely monitor future developments regarding UPS and evaluate any potential impacts on the company’s stock performance.
It is important to consider multiple factors when assessing an investment opportunity and determining whether to follow or deviate from financial professionals’ decisions in terms of buying or selling stocks and other securities.
Investors are encouraged to conduct thorough research and analysis of a company’s financial health, earnings outlook, market trends, and any other pertinent information before making investment decisions.
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Investor Activity and Analyst Ratings Impact United Parcel Service (UPS) Stock Performance
September 26, 2023 – United Parcel Service (UPS), a transportation company with a market cap of $131.83 billion, has seen recent activity in its shares by various institutional investors and hedge funds. &Other hedge funds and other institutional investors have recently bought and sold shares of the company.
Pacific Center for Financial Services acquired a new stake in UPS during the first quarter valued at $25,000. Worth Asset Management LLC also acquired a new stake in the first quarter, valued at $27,000. Carolina Wealth Advisors LLC increased its stake in UPS by 216.0% in the second quarter. They now own 158 shares of the company’s stock valued at $28,000 after buying an additional 108 shares during that period.
Dark Forest Capital Management LP joined the list of institutional investors with a new stake in UPS during the fourth quarter valued at $31,000. Carderock Capital Management Inc. completed the list by acquiring a new stake in UPS during the first quarter valued at $32,000. These transactions resulted in approximately 58.45% of UPS stocks belonging to institutional investors and hedge funds.
Equities research analysts have been closely monitoring UPS shares as well. In their recent notes, BMO Capital Markets raised their target price from $180.00 to $190.00 and gave the company a “market perform” rating on August 9th. Credit Suisse Group lowered their target price from $204.00 to $194.00 and set a “neutral” rating for UPS on the same day.
Barclays also raised their price target on UPS from $172.00 to $180.00 and gave it an “equal weight” rating on August 8th while Stephens reiterated an “equal weight” rating and issued a $195.00 price target on September 12th.
However, UBS Group downgraded UPS from a “buy” rating to a “neutral” rating on August 9th, reducing their price target for the stock from $198.00 to $185.00. Three research analysts have rated the stock as a sell, fifteen have assigned a hold rating, eight have assigned a buy rating, and one has issued a strong buy rating.
Recent insider activity also caught market attention, as Nando Cesarone sold 22,825 shares of UPS stock on August 16th at an average price of $171.70 per share. Cesarone currently owns 1 share of the company’s stock valued at $171.70.
Shares of UPS opened at $154.29 on Tuesday, September 26th. The company’s P/E ratio stands at 13.38 with a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.
Looking back at the past year, UPS had seen its shares range between a low of $152.82 and a high of $197.80.
With a current ratio and quick ratio both at 1.32 and a debt-to-equity ratio of 0.97, UPS seems to be in solid financial standing.
As we move further into the year, it remains to be seen whether these recent shifts in investor activity will have any significant impact on United Parcel Service’s performance and stock value.
