CIBC Asset Management Inc Has $9.92 Million Stock Position in United Parcel Service, Inc. $UPS

CIBC Asset Management Inc lessened its holdings in United Parcel Service, Inc. (NYSE:UPS) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,732 shares of the transportation company’s stock after selling 10,674 shares during the quarter. CIBC Asset Management Inc’s holdings in United Parcel Service were worth $9,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of United Parcel Service by 63.8% in the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after acquiring an additional 4,723 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in United Parcel Service during the 2nd quarter worth approximately $277,000. Patton Fund Management Inc. bought a new position in United Parcel Service in the 2nd quarter valued at approximately $227,000. Uncommon Cents Investing LLC acquired a new stake in United Parcel Service in the second quarter valued at approximately $280,000. Finally, Independence Bank of Kentucky boosted its position in United Parcel Service by 4.7% in the second quarter. Independence Bank of Kentucky now owns 21,764 shares of the transportation company’s stock valued at $2,197,000 after buying an additional 982 shares in the last quarter. Institutional investors own 60.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Susquehanna upped their price target on shares of United Parcel Service from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their target price on United Parcel Service from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Citigroup increased their target price on United Parcel Service from $120.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Stephens upgraded United Parcel Service to a “hold” rating in a report on Wednesday, October 29th. Finally, Truist Financial upped their price objective on United Parcel Service from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.84.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $107.00 on Tuesday. The company has a market capitalization of $90.78 billion, a PE ratio of 16.54, a P/E/G ratio of 2.33 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, Inc. has a twelve month low of $82.00 and a twelve month high of $136.99. The firm has a fifty day simple moving average of $100.72 and a 200 day simple moving average of $93.36.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 EPS 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 for the quarter, compared to analysts’ expectations of $20.94 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were given a dividend of $1.64 per share. The ex-dividend date was Monday, November 17th. This represents a $6.56 annualized dividend and a dividend yield of 6.1%. United Parcel Service’s dividend payout ratio is presently 101.39%.

United Parcel Service Company Profile

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.