Canandaigua National Bank & Trust Co. Buys 8,387 Shares of United Parcel Service, Inc. $UPS

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in United Parcel Service, Inc. by 67.5%, purchasing an additional 8,387 shares in the second quarter, bringing its total holdings to 20,817 shares valued at $2.1 million.
• United Parcel Service reported a net margin of 6.34% and earnings of $1.55 per share, slightly missing analysts' expectations, while revenues for the quarter reached $21.20 billion.
• The company recently declared a quarterly dividend of $1.64, yielding 7.8%, with a payout ratio of 97.62%.

Canandaigua National Bank & Trust Co. boosted its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 67.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,817 shares of the transportation company's stock after purchasing an additional 8,387 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in United Parcel Service were worth $2,101,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. acquired a new position in shares of United Parcel Service during the first quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of United Parcel Service during the fourth quarter worth approximately $27,000. Citizens National Bank Trust Department lifted its holdings in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after buying an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of United Parcel Service during the fourth quarter worth approximately $28,000. Finally, Hemington Wealth Management lifted its holdings in shares of United Parcel Service by 68.9% during the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock worth $31,000 after buying an additional 115 shares during the last quarter. Institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Performance

Shares of NYSE UPS opened at $84.40 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $145.01. The stock has a 50 day moving average of $91.22 and a 200-day moving average of $98.71. The company has a market capitalization of $71.53 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.55 and a beta of 1.08.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business's revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.79 earnings per share. As a group, equities research analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were paid a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.8%. United Parcel Service's payout ratio is 97.62%.

Insider Activity at United Parcel Service

In related news, Director Christiana Smith Shi acquired 500 shares of the company's stock in a transaction on Friday, August 22nd. The stock was purchased at an average cost of $88.17 per share, with a total value of $44,085.00. Following the acquisition, the director directly owned 500 shares of the company's stock, valued at approximately $44,085. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of the company's stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the acquisition, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 17,182 shares of company stock worth $1,477,382 in the last ninety days. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on UPS. BNP Paribas upgraded United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Stifel Nicolaus cut their price target on United Parcel Service from $124.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Truist Financial cut their target price on United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Susquehanna cut their target price on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Finally, UBS Group cut their target price on United Parcel Service from $124.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, United Parcel Service has an average rating of "Hold" and an average price target of $112.34.

United Parcel Service 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.

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