CIBC Asset Management Inc Raises Stock Position in United Parcel Service, Inc. (NYSE:UPS)

CIBC Asset Management Inc grew its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,914 shares of the transportation company’s stock after purchasing an additional 8,377 shares during the period. CIBC Asset Management Inc’s holdings in United Parcel Service were worth $18,667,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Blackston Financial Advisory Group LLC grew its position in United Parcel Service by 1.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 5,068 shares of the transportation company’s stock valued at $694,000 after buying an additional 69 shares during the period. Cigna Investments Inc. New raised its holdings in United Parcel Service by 1.0% in the 3rd quarter. Cigna Investments Inc. New now owns 7,508 shares of the transportation company’s stock worth $1,024,000 after purchasing an additional 75 shares during the period. Gleason Group Inc. boosted its position in United Parcel Service by 1.2% during the second quarter. Gleason Group Inc. now owns 6,496 shares of the transportation company’s stock worth $889,000 after purchasing an additional 77 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in United Parcel Service by 0.5% in the second quarter. Nicholas Hoffman & Company LLC. now owns 15,837 shares of the transportation company’s stock valued at $2,167,000 after purchasing an additional 79 shares during the period. Finally, Horan Capital Advisors LLC. raised its stake in shares of United Parcel Service by 0.4% during the 2nd quarter. Horan Capital Advisors LLC. now owns 23,029 shares of the transportation company’s stock worth $3,152,000 after buying an additional 83 shares during the period. 60.26% of the stock is owned by institutional investors.

United Parcel Service Stock Up 1.1 %

United Parcel Service stock opened at $134.10 on Friday. United Parcel Service, Inc. has a fifty-two week low of $123.12 and a fifty-two week high of $163.82. The firm has a 50 day moving average price of $132.37 and a 200 day moving average price of $134.86. The company has a market capitalization of $114.86 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.19 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. United Parcel Service’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Research analysts expect that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Monday, November 18th. United Parcel Service’s payout ratio is currently 98.49%.

Analyst Ratings Changes

Several equities research analysts recently commented on UPS shares. JPMorgan Chase & Co. cut their price target on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus upped their price target on shares of United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America lifted their price objective on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. UBS Group lifted their price target on United Parcel Service from $159.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Oppenheimer raised their price objective on United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.52.

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.