Shakespeare Wealth Management Inc. has recently acquired a new position in shares of United Parcel Service, Inc. for approximately $207,000, according to its most recent disclosure with the Securities and Exchange Commission as of June 3, 2023. This news has led to an increased level of interest in the transportation company as investors wait for further developments.
United Parcel Service (NYSE:UPS) is a package delivery company that provides global supply chain management solutions through its U.S. Domestic Package, International Package, and Supply Chain Solutions segments. The firm has reported impressive quarterly earnings results, boasting a $2.20 EPS for the quarter that exceeded analysts’ consensus estimates by $0.01.
Notably, United Parcel Service had a net margin of 10.90% and a return on equity of 57.68%. The company’s revenue was lower than analyst estimates at $22.93 billion during the quarter compared to $22.98 billion projected by industry experts. As such, it is imperative to analyze past performance to predict future prospects.
During the same quarter last year, United Parcel Service posted earnings per share of $3.05 but decreased this year due to COVID-19 restrictions impacting supply chains worldwide significantly. Nonetheless, analysts are forecasting that the firm will post 10.78 EPS throughout this year.
The news about United Parcel Service acquiring an influential shareholder such as Shakespeare Wealth Management sparks intrigue amongst industry experts and investors alike regarding how this development could affect future market trends positively or negatively.
In conclusion, the acquisition made by Shakespeare Wealth Management Inc regarding the shares of United Parcel Service has increased attention towards one of America’s leading package delivery companies with global reach and presents fascinating possibilities for financial analysts eyeing potential movements within their portfolios based on these recent developments in the sector in question.
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Institutional Investors and hedge funds show interest in UPS stocks
United Parcel Service (UPS), the global package delivery company, has recently seen changes to its positions thanks to various institutions and hedge funds. RB Capital Management LLC, Halbert Hargrove Global Advisors LLC, Ergoteles LLC, First Western Trust Bank and Stevens Capital Management LP have all either increased their position in UPS or acquired new stakes in the company. Fifty-eight point nine two percent of UPS stock is now owned by institutional investors.
Shares of NYSE:UPS traded up $1.60 during trading on Friday, reaching $169.43. While there was a decrease in the number of shares that were traded compared to the average volume for this company, a significant amount still passed hands at 611,490 shares.
Averaging out at $180.81 and $181.31, both the fifty-day and two-hundred-day moving averages are currently hovering around two dollars above the price per share that was exchanged on Friday for UPS shares. The market capitalization for UPS currently stands at $145.52 billion.
Part of United Parcel Service’s income comes from their dividend payouts which shareholders receive quarterly. On Thursday June 1st they issued a dividend to shareholders who had recorded it as theirs before May 15th. The value of this dividend was set at $1.62 per share with an ex-dividend date on May 12th.
Investment analysts have varied opinions when it comes to the stock predicted trajectory for United Parcel Service stock prices. While three have said that they believe that investors should sell this stock, others are predicting a buy rating which is perhaps influenced by Bloomberg.com stating that investor ratings come under “Moderate Buy” with an average target price of $193.27.
In terms of company description United Parcel Service is all about supply chain management solutions across international borders it also offers time-definite delivery solutions involving packages documents and letters.
