5 Best TaaS Stocks to Buy Now

2. United Parcel Service, Inc. (NYSE:UPS)

Number of Hedge Funds: 55

The American shipping and receiving company, United Parcel Service, Inc. (NYSE:UPS), has shown growth in every segment compared to the previous year. The company reported revenue growth of 8% for the U.S. Domestic business and the International by 5.8% to $15.1 billion and $4.9 billion, respectively. The revenue of United Parcel Service, Inc. (NYSE:UPS) for the fiscal year 2022 is expected to be 5% better than 2021 at $102 billion.

In the first quarter of 2022, United Parcel Service, Inc. (NYSE:UPS) had strong results, with an EPS of $3.05, which was $0.17 above the forecasts. On top of that, the company beat its revenue estimates by 2.43% at $24.38 billion, compared to $23.80 billion analyst estimates. United Parcel Service, Inc. (NYSE:UPS) had revenue growth of 27% compared to the same period last year. Similarly, the EPS YoY  growth doubled compared to the first quarter of 2021.

Out of the 924 hedge funds tracked by Insider Monkey, 55 held stakes in United Parcel Service, Inc. (NYSE:UPS) in the fourth quarter of 2021, compared to 42 in the previous quarter. The most prominent stake was held by Bill & Melinda Gates Foundation Trust, with 2.28 million shares worth $489.556 million.

Here is what ClearBridge Investments had to say about United Parcel Service, Inc. (NYSE:UPS) in their fourth-quarter 2021 investor letter:

“Despite these mixed emerging growth results, the ClearBridge Global Growth Strategy outperformed the benchmark due to resilience among our secular and structural growth holdings. The bulk of these contributions came from U.S. mega-cap growth stocks Apple and Microsoft which continued to uniquely act both offensively and defensively as they have through most of the pandemic. These consistent growers were complemented by solid contributions from structural holdings including United Parcel Service.”