CIBC Asset Management Inc Sells 10,674 Shares of United Parcel Service, Inc. $UPS

CIBC Asset Management Inc trimmed its stake in United Parcel Service, Inc. (NYSE:UPS) by 8.2% in the third quarter, HoldingsChannel reports. The firm owned 118,732 shares of the transportation company’s stock after selling 10,674 shares during the period. CIBC Asset Management Inc’s holdings in United Parcel Service were worth $9,918,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Group LLC increased its position in United Parcel Service by 3.9% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 2,557 shares of the transportation company’s stock valued at $258,000 after buying an additional 97 shares in the last quarter. Gleason Group Inc. grew its stake in United Parcel Service by 1.7% in the second quarter. Gleason Group Inc. now owns 6,864 shares of the transportation company’s stock valued at $693,000 after acquiring an additional 113 shares during the period. Richwood Investment Advisors LLC grew its position in United Parcel Service by 1.9% in the 2nd quarter. Richwood Investment Advisors LLC now owns 6,089 shares of the transportation company’s stock valued at $615,000 after purchasing an additional 115 shares during the period. MSH Capital Advisors LLC lifted its stake in shares of United Parcel Service by 1.4% in the second quarter. MSH Capital Advisors LLC now owns 8,088 shares of the transportation company’s stock valued at $816,000 after buying an additional 115 shares in the last quarter. Finally, Wealth Advisory Solutions LLC grew its holdings in shares of United Parcel Service by 2.3% during the third quarter. Wealth Advisory Solutions LLC now owns 5,163 shares of the transportation company’s stock valued at $431,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Stock Down 0.9%

UPS opened at $107.00 on Tuesday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99. The company has a market cap of $90.78 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 2.33 and a beta of 1.11. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $100.72 and a 200 day moving average of $93.36.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The firm had revenue of $21.42 billion for the quarter, compared to the consensus estimate of $20.94 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $6.56 dividend on an annualized basis and a yield of 6.1%. United Parcel Service’s dividend payout ratio is 101.39%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on UPS shares. Wells Fargo & Company lifted their target price on United Parcel Service from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Sanford C. Bernstein lifted their price objective on shares of United Parcel Service from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. BNP Paribas Exane downgraded shares of United Parcel Service from a “neutral” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Tuesday, January 13th. Stifel Nicolaus raised their price target on shares of United Parcel Service from $110.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of United Parcel Service in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.84.

United Parcel Service 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.