UBS Downgrades United Parcel Service

By 247patrick Updated Aug 10, 12:38PM EDT · Published Aug 9, 11:34PM EDT

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UBS Downgrades United Parcel Service — © 100pk / iStock Editorial via Getty Images

Fintel reports that on August 9, 2023, UBS downgraded their outlook for United Parcel Service, Inc. – Class B (NYSE:UPS) from Buy to Neutral.

Analyst Price Forecast Suggests 7.40% Upside

As of August 2, 2023, the average one-year price target for United Parcel Service, Inc. – Class B is 193.91. The forecasts range from a low of 101.00 to a high of $241.50. The average price target represents an increase of 7.40% from its latest reported closing price of 180.55.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for United Parcel Service, Inc. – Class B is 101,376MM, an increase of 5.41%. The projected annual non-GAAP EPS is 12.39.

What is the Fund Sentiment?

There are 3451 funds or institutions reporting positions in United Parcel Service, Inc. – Class B. This is a decrease of 11 owner(s) or 0.32% in the last quarter. Average portfolio weight of all funds dedicated to UPS is 0.65%, an increase of 2.42%. Total shares owned by institutions decreased in the last three months by 2.89% to 582,863K shares. The put/call ratio of UPS is 0.92, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 22,446K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 22,181K shares, representing an increase of 1.18%. The firm increased its portfolio allocation in UPS by 4.27% over the last quarter.

Jpmorgan Chase holds 20,662K shares representing 2.41% ownership of the company. In it’s prior filing, the firm reported owning 24,038K shares, representing a decrease of 16.34%. The firm decreased its portfolio allocation in UPS by 11.37% over the last quarter.

Bank Of America holds 17,226K shares representing 2.01% ownership of the company. In it’s prior filing, the firm reported owning 16,375K shares, representing an increase of 4.94%. The firm decreased its portfolio allocation in UPS by 73.00% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 17,030K shares representing 1.98% ownership of the company. In it’s prior filing, the firm reported owning 16,871K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in UPS by 4.46% over the last quarter.

Charles Schwab Investment Management holds 14,944K shares representing 1.74% ownership of the company. In it’s prior filing, the firm reported owning 4,809K shares, representing an increase of 67.82%. The firm increased its portfolio allocation in UPS by 190.96% over the last quarter.

United Parcel Service Background Information
(This description is provided by the company.)

UPS, one of the world’s largest package delivery companies with 2019 revenue of $74 billion, provides a broad range of integrated logistics solutions for customers in more than 220 countries and territories. The company’s more than 500,000 employees embrace a strategy that is simply stated and powerfully executed: Customer First. People Led. Innovation Driven. UPS is committed to being a steward of the environment and positively contributing to the communities we serve around the world. UPS also takes a strong and unwavering stance in support of diversity, equity and inclusion.

This article originally appeared on Fintel