Lynch & Associates Reduces Stake in United Parcel Service by 16.1%

Lynch & Associates IN has reduced its stake in United Parcel Service, Inc. (NYSE: UPS) by 16.1%, now holding 45,166 shares valued at approximately $3.77 million. This adjustment follows the sale of 8,643 shares during the third quarter, as reported by Holdings Channel.

Several other institutional investors have also made significant adjustments to their positions in United Parcel Service. Notably, Norges Bank acquired a new stake in the company during the second quarter, valued at around $851.8 million. Meanwhile, Laurel Wealth Advisors LLC increased its holdings dramatically by 11,517.3%, now owning 2,503,413 shares worth $252.7 million after acquiring an additional 2,481,864 shares.

Similarly, Arrowstreet Capital Limited Partnership raised its stake by 78.7%, bringing its total to 4,086,862 shares valued at $412.5 million. Invesco Ltd. has also boosted its holdings by 45.4%, now owning 5,730,804 shares worth $578.5 million. Finally, Assenagon Asset Management S.A. grew its position by an impressive 443.6%, accumulating 1,549,962 shares valued at $156.5 million. Institutional investors collectively hold 60.26% of United Parcel Service’s stock.

Current Stock Performance

As of Wednesday, shares of UPS opened at $100.15. The company currently has a market capitalization of $84.97 billion, with a price-to-earnings (PE) ratio of 15.48 and a price/earnings-to-growth (PEG) ratio of 2.39. The stock has demonstrated volatility, with a beta of 1.11, and its performance reflects a one-year low of $82.00 and a high of $136.99. The 50-day simple moving average is $92.95, while the 200-day moving average is $92.68.

United Parcel Service also announced a quarterly dividend of $1.64 per share, which was paid on December 4, 2023, to shareholders recorded on November 17, 2023. This brings the annualized dividend to $6.56, yielding 6.6%. The dividend payout ratio currently stands at 101.39%, indicating a high commitment to returning capital to shareholders.

Analyst Insights and Ratings

Analysts have been actively reviewing United Parcel Service’s stock. On October 29, 2023, UBS Group raised its target price from $110.00 to $113.00, maintaining a “buy” rating. Similarly, Stephens upgraded the stock to a “hold” rating. Stifel Nicolaus increased its target price from $110.00 to $112.00, also assigning a “buy” rating.

Other analysts, including Susquehanna, boosted their target price from $100.00 to $105.00 while issuing a “neutral” rating. Citigroup increased its price target from $112.00 to $120.00 with a “buy” rating.

Overall, the consensus rating for United Parcel Service currently stands at “Hold,” with a consensus target price of $110.09, according to data from MarketBeat. One analyst has issued a “Strong Buy” rating, while nine analysts have rated it as a “Buy,” sixteen as “Hold,” and four have given it a “Sell” rating.

United Parcel Service, Inc. operates as a leading package delivery company, providing a wide range of services including transportation, logistics, and customs brokerage. The company functions through two primary segments: U.S. Domestic Package and International Package. The U.S. Domestic Package segment focuses on time-definite delivery of express letters, documents, and small packages across various transport methods within the United States.

For those interested in further developments regarding United Parcel Service, additional insights can be accessed through platforms such as Holdings Channel, where recent filings and insider trades are regularly updated.