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

CIBC Asset Management Inc grew its holdings in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 6.5% in the third quarter, according to the company in its most recent 13F 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 hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in United Parcel Service during the 2nd quarter valued at about $28,000. Riverview Trust Co bought a new position in United Parcel Service during the second quarter valued at approximately $32,000. Centerpoint Advisors LLC boosted its holdings in United Parcel Service by 291.7% in the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company's stock worth $32,000 after purchasing an additional 175 shares during the last quarter. Princeton Global Asset Management LLC grew its position in United Parcel Service by 720.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 246 shares of the transportation company's stock worth $34,000 after purchasing an additional 216 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in United Parcel Service by 168.5% during the 2nd quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company's stock valued at $34,000 after buying an additional 155 shares during the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Price Performance

Shares of UPS stock traded up $1.43 during mid-day trading on Friday, hitting $134.07. The company had a trading volume of 3,337,614 shares, compared to its average volume of 3,986,738. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14. The stock's 50 day moving average price is $132.50 and its 200-day moving average price is $134.76. United Parcel Service, Inc. has a 52-week low of $123.12 and a 52-week high of $163.82. The company has a market capitalization of $114.84 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.18 and a beta of 0.99.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.63 by $0.13. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $22.10 billion. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 EPS. Equities research analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Monday, November 18th. United Parcel Service's dividend payout ratio is presently 98.49%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group lifted their price objective on United Parcel Service from $159.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of United Parcel Service from $134.00 to $142.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. TD Cowen assumed coverage on shares of United Parcel Service in a report on Thursday, August 22nd. They set a "hold" rating and a $144.00 target price for the company. Robert W. Baird dropped their price target on shares of United Parcel Service from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 24th. Finally, Barclays restated an "underweight" rating and issued a $120.00 price objective on shares of United Parcel Service in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, United Parcel Service has an average rating of "Moderate Buy" and an average price target of $151.52.

United Parcel Service Company Profile

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.