CIBC Bancorp USA Inc. Invests $8.48 Million in United Parcel Service, Inc. $UPS

CIBC Bancorp USA Inc. acquired a new stake in United Parcel Service, Inc. (NYSE:UPS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 101,465 shares of the transportation company’s stock, valued at approximately $8,475,000.

Several other hedge funds have also added to or reduced their stakes in UPS. Brighton Jones LLC lifted its holdings in United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after buying an additional 4,723 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of United Parcel Service in the second quarter worth approximately $277,000. SVB Wealth LLC bought a new stake in United Parcel Service in the second quarter valued at approximately $848,000. TD Waterhouse Canada Inc. boosted its holdings in United Parcel Service by 7.9% in the second quarter. TD Waterhouse Canada Inc. now owns 29,232 shares of the transportation company’s stock valued at $3,070,000 after acquiring an additional 2,141 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in United Parcel Service by 188.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 756,209 shares of the transportation company’s stock valued at $76,332,000 after purchasing an additional 494,149 shares during the period. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Stock Down 0.6%

Shares of United Parcel Service stock opened at $95.94 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.22 and a current ratio of 1.22. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $122.41. The company’s 50 day moving average price is $109.19 and its 200-day moving average price is $98.20. The stock has a market capitalization of $81.46 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.52 and a beta of 1.08.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, January 27th. The transportation company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.18. The business had revenue of $24.48 billion during the quarter, compared to analysts’ expectations of $23.91 billion. United Parcel Service had a net margin of 6.28% and a return on equity of 38.30%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.75 EPS. Equities research 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 declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $6.56 dividend on an annualized basis and a yield of 6.8%. United Parcel Service’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UPS shares. Citigroup lowered their price target on shares of United Parcel Service from $126.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Evercore upped their price objective on shares of United Parcel Service from $94.00 to $113.00 and gave the company an “in-line” rating in a research note on Wednesday, January 21st. Wolfe Research reiterated a “peer perform” rating on shares of United Parcel Service in a research report on Thursday, January 8th. Truist Financial lifted their target price on shares of United Parcel Service from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, UBS Group upped their price target on shares of United Parcel Service from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.67.

Insider Buying and Selling

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 25,014 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $106.15, for a total value of $2,655,236.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

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.