United Parcel Service, Inc. $UPS Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 59.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Coston McIsaac & Partners grew its holdings in shares of United Parcel Service by 77.8% in the fourth quarter. Coston McIsaac & Partners now owns 272 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 119 shares in the last quarter. Torren Management LLC acquired a new position in shares of United Parcel Service in the fourth quarter worth $29,000. Physician Wealth Advisors Inc. increased its position in shares of United Parcel Service by 76.5% during the third quarter. Physician Wealth Advisors Inc. now owns 376 shares of the transportation company’s stock worth $31,000 after acquiring an additional 163 shares during the period. Winch Advisory Services LLC raised its stake in shares of United Parcel Service by 37.3% in the third quarter. Winch Advisory Services LLC now owns 456 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 124 shares in the last quarter. Finally, Activest Wealth Management raised its stake in shares of United Parcel Service by 144.3% in the fourth quarter. Activest Wealth Management now owns 408 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 241 shares in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Trading Up 1.3%

UPS opened at $110.10 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.21 and a current ratio of 1.21. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $122.41. The company has a market cap of $93.59 billion, a P/E ratio of 17.82, a PEG ratio of 1.73 and a beta of 1.05. The business’s 50-day simple moving average is $101.98 and its 200-day simple moving average is $103.53.

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

United Parcel Service Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About United Parcel Service

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.