United Parcel Service, Inc. (NYSE:UPS) Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its stake in United Parcel Service, Inc. (NYSE:UPS) by 7.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 62,547 shares of the transportation company’s stock after selling 5,324 shares during the quarter. Mackenzie Financial Corp’s holdings in United Parcel Service were worth $9,834,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in United Parcel Service in the third quarter valued at $25,000. IMA Wealth Inc. lifted its stake in United Parcel Service by 100.0% in the second quarter. IMA Wealth Inc. now owns 142 shares of the transportation company’s stock valued at $25,000 after buying an additional 71 shares during the last quarter. Pacific Center for Financial Services bought a new stake in United Parcel Service in the first quarter valued at $25,000. Tennessee Valley Asset Management Partners bought a new stake in United Parcel Service in the fourth quarter valued at $26,000. Finally, Worth Asset Management LLC bought a new stake in United Parcel Service in the first quarter valued at $27,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of NYSE UPS opened at $142.77 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $149.48 and its two-hundred day moving average is $151.19. The company has a market cap of $121.73 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.66 and a beta of 1.05. United Parcel Service, Inc. has a 12 month low of $133.68 and a 12 month high of $197.80.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, January 30th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.01. The business had revenue of $24.92 billion for the quarter, compared to analysts’ expectations of $25.40 billion. United Parcel Service had a return on equity of 39.46% and a net margin of 7.37%. United Parcel Service’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.62 earnings per share. On average, equities analysts expect that United Parcel Service, Inc. will post 8.2 EPS for the current year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were paid a $1.63 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.62. The ex-dividend date was Friday, February 16th. This represents a $6.52 annualized dividend and a yield of 4.57%. United Parcel Service’s payout ratio is currently 83.70%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Daiwa Capital Markets lowered United Parcel Service from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Tuesday, December 26th. TheStreet raised United Parcel Service from a “c” rating to a “b-” rating in a report on Tuesday, January 30th. Raymond James lowered their price target on United Parcel Service from $185.00 to $175.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 31st. JPMorgan Chase & Co. lowered their price target on United Parcel Service from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Finally, Evercore ISI reissued an “in-line” rating and set a $154.00 price target on shares of United Parcel Service in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $165.61.

Insider Activity at United Parcel Service

In other United Parcel Service news, Director Eva C. Boratto acquired 1,400 shares of United Parcel Service stock in a transaction on Friday, February 2nd. The shares were bought at an average price of $142.30 per share, with a total value of $199,220.00. Following the completion of the purchase, the director now owns 1,400 shares in the company, valued at $199,220. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

About United Parcel Service

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.