Canandaigua National Bank & Trust Co. Raises Stock Position in United Parcel Service, Inc. $UPS

Canandaigua National Bank & Trust Co. boosted its stake in United Parcel Service, Inc. (NYSE:UPS) by 51.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,450 shares of the transportation company’s stock after purchasing an additional 10,633 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in United Parcel Service were worth $2,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of United Parcel Service in the 2nd quarter worth approximately $851,842,000. Laurel Wealth Advisors LLC increased its holdings in United Parcel Service by 11,517.3% during the second quarter. Laurel Wealth Advisors LLC now owns 2,503,413 shares of the transportation company’s stock valued at $252,695,000 after buying an additional 2,481,864 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in United Parcel Service by 78.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,086,862 shares of the transportation company’s stock worth $412,528,000 after acquiring an additional 1,799,882 shares during the period. Invesco Ltd. boosted its stake in shares of United Parcel Service by 45.4% during the 2nd quarter. Invesco Ltd. now owns 5,730,804 shares of the transportation company’s stock worth $578,467,000 after acquiring an additional 1,789,467 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of United Parcel Service by 443.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after acquiring an additional 1,264,842 shares during the period. 60.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of recent research reports. Wall Street Zen raised United Parcel Service from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Stephens raised United Parcel Service to a “hold” rating in a research note on Wednesday, October 29th. Bank of America cut their price objective on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Truist Financial increased their target price on shares of United Parcel Service from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of United Parcel Service in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $110.09.

United Parcel Service Stock Up 0.1%

NYSE UPS opened at $100.15 on Wednesday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99. 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 stock has a market cap of $84.97 billion, a PE ratio of 15.48, a P/E/G ratio of 2.39 and a beta of 1.11. The stock’s 50 day moving average is $92.95 and its 200 day moving average is $92.68.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.43. United Parcel Service had a net margin of 6.15% and a return on equity of 40.07%. The firm had revenue of $21.42 billion for the quarter, compared to analysts’ expectations of $20.94 billion. During the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Monday, November 17th. United Parcel Service’s payout ratio is currently 101.39%.

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.