SteelPeak Wealth LLC Has $4.33 Million Position in United Parcel Service, Inc. (NYSE:UPS)

SteelPeak Wealth LLC lifted its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 881.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,769 shares of the transportation company's stock after purchasing an additional 28,533 shares during the quarter. SteelPeak Wealth LLC's holdings in United Parcel Service were worth $4,331,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Diversify Wealth Management LLC increased its position in shares of United Parcel Service by 13.0% in the third quarter. Diversify Wealth Management LLC now owns 15,142 shares of the transportation company's stock valued at $1,990,000 after acquiring an additional 1,743 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in United Parcel Service by 14.8% in the third quarter. Pinnacle Associates Ltd. now owns 104,731 shares of the transportation company's stock valued at $14,279,000 after purchasing an additional 13,473 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of United Parcel Service by 33.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,459 shares of the transportation company's stock worth $2,789,000 after purchasing an additional 5,150 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of United Parcel Service by 7.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 17,126 shares of the transportation company's stock worth $2,335,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Mutual Advisors LLC raised its stake in shares of United Parcel Service by 35.3% during the 3rd quarter. Mutual Advisors LLC now owns 28,865 shares of the transportation company's stock worth $3,993,000 after purchasing an additional 7,524 shares in the last quarter. Institutional investors own 60.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UPS. Barclays restated an "underweight" rating and set a $120.00 target price on shares of United Parcel Service in a report on Monday, October 21st. The Goldman Sachs Group dropped their target price on shares of United Parcel Service from $165.00 to $162.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. UBS Group raised their price objective on United Parcel Service from $159.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their target price on United Parcel Service from $134.00 to $142.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Finally, Bank of America lifted their price objective on shares of United Parcel Service from $132.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, United Parcel Service presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.71.

United Parcel Service Price Performance

Shares of NYSE UPS traded down $0.52 during trading hours on Wednesday, hitting $133.79. 2,752,377 shares of the stock were exchanged, compared to its average volume of 4,208,004. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82. The company has a market cap of $114.60 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.14. The company's fifty day simple moving average is $131.12 and its two-hundred day simple moving average is $135.73.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.13. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 EPS. On average, sell-side analysts predict that United Parcel Service, Inc. will post 7.41 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Monday, August 19th. United Parcel Service's dividend payout ratio (DPR) is presently 98.49%.

About United Parcel Service

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.