CX Institutional Has $5.99 Million Position in United Parcel Service, Inc. $UPS

CX Institutional grew its stake in United Parcel Service, Inc. (NYSE:UPS) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,657 shares of the transportation company’s stock after acquiring an additional 11,492 shares during the quarter. CX Institutional’s holdings in United Parcel Service were worth $5,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UPS. Norges Bank acquired a new stake in United Parcel Service in the second quarter worth $851,842,000. Laurel Wealth Advisors LLC increased its position in shares of United Parcel Service by 11,517.3% in the 2nd 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of United Parcel Service by 78.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,086,862 shares of the transportation company’s stock valued at $412,528,000 after buying an additional 1,799,882 shares in the last quarter. Invesco Ltd. raised its stake in 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 buying an additional 1,789,467 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in United Parcel Service by 443.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock worth $156,453,000 after acquiring an additional 1,264,842 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UPS. Susquehanna raised their price target on United Parcel Service from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Citigroup raised their target price on shares of United Parcel Service from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Stifel Nicolaus lifted 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 note on Tuesday, December 16th. Wells Fargo & Company increased their price objective on shares of United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Truist Financial boosted their price objective on shares of United Parcel Service from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One investment 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’s stock. According to data from MarketBeat, United Parcel Service currently has a consensus rating of “Hold” and a consensus price target of $110.19.

United Parcel Service Stock Performance

Shares of UPS stock opened at $105.41 on Thursday. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $136.99. The company’s fifty day simple moving average is $97.39 and its 200-day simple moving average is $92.93. The firm has a market cap of $89.43 billion, a PE ratio of 16.29, a P/E/G ratio of 2.38 and a beta of 1.11. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.50.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $21.42 billion during the quarter, compared to the consensus estimate of $20.94 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were given a $1.64 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.2%. United Parcel Service’s payout ratio is currently 101.39%.

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.