CIBC Asset Management Inc Grows Position in United Parcel Service, Inc. $UPS

CIBC Asset Management Inc boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 59.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,761 shares of the transportation company’s stock after acquiring an additional 70,029 shares during the quarter. CIBC Asset Management Inc’s holdings in United Parcel Service were worth $18,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of United Parcel Service by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,541,742 shares of the transportation company’s stock worth $450,495,000 after buying an additional 65,652 shares during the period. Bruce G. Allen Investments LLC increased its position in United Parcel Service by 50.2% in the 4th quarter. Bruce G. Allen Investments LLC now owns 1,744 shares of the transportation company’s stock valued at $173,000 after acquiring an additional 583 shares during the period. Westpac Banking Corp increased its position in United Parcel Service by 78.5% in the 4th quarter. Westpac Banking Corp now owns 12,252 shares of the transportation company’s stock valued at $1,215,000 after acquiring an additional 5,390 shares during the period. Greenwich Wealth Management LLC raised its stake in United Parcel Service by 6.7% during the 4th quarter. Greenwich Wealth Management LLC now owns 4,962 shares of the transportation company’s stock valued at $492,000 after acquiring an additional 310 shares during the last quarter. Finally, Peak Retirement Planning Inc. purchased a new stake in United Parcel Service during the 4th quarter valued at approximately $1,341,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

Shares of UPS stock opened at $110.10 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.50. The stock has a 50 day simple moving average of $101.98 and a 200-day simple moving average of $103.53. The company has a market cap of $93.59 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05. United Parcel Service, Inc. has a 12-month low of $82.00 and a 12-month high of $122.41.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.99 billion. United Parcel Service had a return on equity of 35.95% and a net margin of 5.94%.The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.1 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.0%. United Parcel Service’s dividend payout ratio is 106.15%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lowered their target price on United Parcel Service from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Susquehanna upped their price target on United Parcel Service from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Citigroup increased their price target on United Parcel Service from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of United Parcel Service from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Finally, Evercore dropped their price objective on shares of United Parcel Service from $115.00 to $113.00 and set an “in-line” rating on the stock in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $111.50.

United Parcel Service Company Profile

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.