Kornitzer Capital Management Inc. KS Has $7.29 Million Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Kornitzer Capital Management Inc. KS lessened its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,307 shares of the transportation company's stock after selling 6,210 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in United Parcel Service were worth $7,293,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in United Parcel Service by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 65,136,394 shares of the transportation company's stock worth $8,213,699,000 after buying an additional 370,705 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of United Parcel Service by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 15,704,334 shares of the transportation company's stock worth $1,979,695,000 after acquiring an additional 414,710 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of United Parcel Service by 15.6% during the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock worth $1,384,567,000 after acquiring an additional 1,484,452 shares in the last quarter. FMR LLC boosted its position in United Parcel Service by 2.5% during the fourth quarter. FMR LLC now owns 10,895,828 shares of the transportation company's stock valued at $1,373,964,000 after purchasing an additional 268,278 shares during the last quarter. Finally, Norges Bank purchased a new position in United Parcel Service in the fourth quarter valued at about $1,075,393,000. Institutional investors and hedge funds own 60.26% of the company's stock.

United Parcel Service Trading Down 0.6%

Shares of NYSE UPS traded down $0.60 during mid-day trading on Friday, hitting $98.91. The company's stock had a trading volume of 1,145,968 shares, compared to its average volume of 5,244,350. United Parcel Service, Inc. has a one year low of $90.55 and a one year high of $148.15. The stock has a market cap of $83.75 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. The company's fifty day simple moving average is $99.79 and its 200-day simple moving average is $108.33.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.11. The firm had revenue of $21.50 billion during the quarter, compared to analysts' expectations of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service's dividend payout ratio is currently 95.63%.

Wall Street Analyst Weigh In

UPS has been the subject of several research reports. Hsbc Global Res lowered United Parcel Service from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Galvan Research cut their price objective on shares of United Parcel Service from $147.00 to $133.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus decreased their target price on shares of United Parcel Service from $145.00 to $124.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of United Parcel Service from $110.00 to $107.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. Finally, Bank of America lifted their price objective on shares of United Parcel Service from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, United Parcel Service presently has an average rating of "Hold" and a consensus price target of $119.13.

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.