CIBC Asset Management Inc lowered its stake in United Parcel Service, Inc. (NYSE:UPS) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,747 shares of the transportation company’s stock after selling 18,922 shares during the quarter. CIBC Asset Management Inc’s holdings in United Parcel Service were worth $42,030,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of UPS. Harel Insurance Investments & Financial Services Ltd. purchased a new position in United Parcel Service in the 3rd quarter worth about $120,000. Security National Trust Co. increased its stake in United Parcel Service by 3.9% in the 2nd quarter. Security National Trust Co. now owns 1,292 shares of the transportation company’s stock worth $143,000 after purchasing an additional 48 shares in the last quarter. Resources Investment Advisors Inc. increased its stake in United Parcel Service by 51.2% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,235 shares of the transportation company’s stock worth $147,000 after purchasing an additional 418 shares in the last quarter. Choate Investment Advisors purchased a new position in United Parcel Service in the 2nd quarter worth about $203,000. Finally, First Midwest Bank Trust Division purchased a new position in United Parcel Service in the 3rd quarter worth about $203,000. 53.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on UPS shares. Deutsche Bank raised United Parcel Service from a “hold” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $135.00 in a research note on Monday, December 4th. Goldman Sachs Group started coverage on United Parcel Service in a research note on Monday, November 13th. They issued a “buy” rating and a $148.00 price target on the stock. Oppenheimer reaffirmed a “buy” rating and set a $123.00 target price on shares of United Parcel Service in a research note on Monday, November 6th. Knight Equity reaffirmed a “buy” rating and set a $135.00 target price (down previously from $145.00) on shares of United Parcel Service in a research note on Monday, January 8th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $137.00 target price on shares of United Parcel Service in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $126.47.
United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, February 1st. The transportation company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.01. The business had revenue of $18.83 billion during the quarter, compared to analyst estimates of $18.20 billion. United Parcel Service had a return on equity of 477.77% and a net margin of 7.45%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. equities research analysts forecast that United Parcel Service, Inc. will post 7.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.42%. This is a positive change from United Parcel Service’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, February 16th. United Parcel Service’s payout ratio is currently 59.18%.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://sportsperspectives.com/2018/02/13/cibc-asset-management-inc-has-42-03-million-position-in-united-parcel-service-inc-ups.html.
About United Parcel Service
United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.
Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS).
Receive News & Ratings for United Parcel Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Parcel Service and related companies with MarketBeat.com's FREE daily email newsletter.