BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Position in United Parcel Service, Inc. (NYSE:UPS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in United Parcel Service, Inc. (NYSE:UPS) by 61.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139,404 shares of the transportation company’s stock after buying an additional 53,053 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in United Parcel Service were worth $19,077,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Gateway Advisory LLC acquired a new position in United Parcel Service in the second quarter valued at approximately $266,000. Marshall Wace LLP lifted its stake in shares of United Parcel Service by 284.8% in the 2nd quarter. Marshall Wace LLP now owns 2,569,831 shares of the transportation company’s stock valued at $351,681,000 after purchasing an additional 1,901,914 shares during the period. Providence Capital Advisors LLC lifted its stake in shares of United Parcel Service by 2.0% in the 2nd quarter. Providence Capital Advisors LLC now owns 20,198 shares of the transportation company’s stock valued at $2,764,000 after purchasing an additional 399 shares during the period. Resources Management Corp CT ADV grew its position in United Parcel Service by 1.8% during the second quarter. Resources Management Corp CT ADV now owns 49,779 shares of the transportation company’s stock valued at $6,812,000 after buying an additional 885 shares during the period. Finally, Bank of Montreal Can increased its holdings in United Parcel Service by 30.6% in the second quarter. Bank of Montreal Can now owns 1,331,160 shares of the transportation company’s stock valued at $182,169,000 after buying an additional 311,582 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on UPS. Susquehanna lowered their target price on shares of United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer dropped their price objective on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Barclays cut their price objective on United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Stephens decreased their price objective on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Stifel Nicolaus decreased their target price on United Parcel Service from $170.00 to $151.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, United Parcel Service currently has an average rating of “Moderate Buy” and a consensus price target of $149.68.

Insiders Place Their Bets

In related news, Director William R. Johnson acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price of $128.61 per share, with a total value of $643,050.00. Following the completion of the transaction, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

United Parcel Service Stock Up 0.6 %

NYSE:UPS opened at $129.54 on Wednesday. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $163.82. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $129.51 and its two-hundred day moving average is $138.84. The stock has a market capitalization of $110.96 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The firm had revenue of $21.82 billion for the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 earnings per share. Research analysts anticipate that United Parcel Service, Inc. will post 7.43 EPS for the current year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 5.03%. The ex-dividend date was Monday, August 19th. United Parcel Service’s payout ratio is currently 94.49%.

United Parcel Service Company Profile

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.