Mackenzie Financial Corp Has $8.97 Million Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Mackenzie Financial Corp lessened its holdings in United Parcel Service, Inc. (NYSE:UPS) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,508 shares of the transportation company’s stock after selling 802 shares during the period. Mackenzie Financial Corp’s holdings in United Parcel Service were worth $8,965,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new position in shares of United Parcel Service during the fourth quarter valued at approximately $31,000. Security National Bank purchased a new position in United Parcel Service during the 4th quarter worth $31,000. TruNorth Capital Management LLC purchased a new position in United Parcel Service during the 2nd quarter worth $28,000. Stephens Consulting LLC raised its holdings in shares of United Parcel Service by 869.6% in the first quarter. Stephens Consulting LLC now owns 223 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 200 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of United Parcel Service during the second quarter valued at about $32,000. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 1.5 %

UPS opened at $136.30 on Tuesday. The firm has a market capitalization of $116.61 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a fifty day moving average price of $128.57 and a 200-day moving average price of $138.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25.

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

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.78%. United Parcel Service’s payout ratio is presently 94.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UPS. Robert W. Baird cut their target price on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note 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 on the stock in a research report on Wednesday, July 24th. Evercore ISI lowered their target price on United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, June 24th. Stifel Nicolaus reduced their price target on shares of United Parcel Service from $170.00 to $151.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Bank of America decreased their price objective on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service currently has an average rating of “Moderate Buy” and an average price target of $149.68.

Insiders Place Their Bets

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

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.