The Wellington Management Group LLP has increased its stake in United Parcel Service, Inc. (NYSE:UPS), and the company has also declared a quarterly dividend. Despite the Q1 performance of UPS exceeding market expectations, it is reportedly pushing for more cost-cutting measures, including the proposed elimination of about 12,000 jobs due to a dim revenue outlook driven by weak parcel demand.
Several investment groups like the Chicago Partners Investment Group LLC, the Tilson Financial Group Inc., and the United Advisor Group LLC are making considerable investments in UPS. Additionally, Schroder Investment Management Group has reduced its stake in the company.
Both the Q4 2022 and Q4 2023 earnings of UPS have been released, showing strong performance. There is a new mega-warehouse, employing 3000 robots, which is considered a 'linchpin' of UPS's strategy. Job contract negotiations with the Teamsters union are ongoing, and while a strike has been averted for now, tensions remain high.
Looking forward, UPS is slated to acquire Multi-national Healthcare Logistics Provider Bomi Group and is forecasting revenue above estimates on cost cuts and margin growth by 2026. Nevertheless, Credit Suisse has recently downgraded UPS stock.
United Parcel Service Class B UPS News Analytics from Wed, 25 Mar 2015 07:00:00 GMT to Tue, 18 Jun 2024 04:04:46 GMT - Rating 0 - Innovation 5 - Information 8 - Rumor 0
