Mackenzie Financial Corp Increases Position in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Mackenzie Financial Corp increased its holdings in United Parcel Service (UPS) by 12.5%, owning 75,386 shares worth approximately $8.29 million.
• UPS reported a quarterly EPS of $1.55, missing expectations by $0.01, with revenue of $21.20 billion, slightly exceeding consensus estimates.
• The firm recently declared a quarterly dividend of $1.64 per share, representing an annual yield of 7.6% despite a high payout ratio of 97.62%.

Mackenzie Financial Corp grew its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 12.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 75,386 shares of the transportation company's stock after acquiring an additional 8,371 shares during the period. Mackenzie Financial Corp's holdings in United Parcel Service were worth $8,292,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of UPS. Inlet Private Wealth LLC raised its position in United Parcel Service by 2.7% during the 1st quarter. Inlet Private Wealth LLC now owns 36,103 shares of the transportation company's stock worth $3,971,000 after purchasing an additional 950 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its position in United Parcel Service by 9.3% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 6,902 shares of the transportation company's stock worth $759,000 after purchasing an additional 587 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in United Parcel Service by 1.0% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 38,776 shares of the transportation company's stock worth $4,265,000 after purchasing an additional 391 shares during the last quarter. Ridgewood Investments LLC raised its position in United Parcel Service by 7.7% during the 1st quarter. Ridgewood Investments LLC now owns 14,671 shares of the transportation company's stock worth $1,614,000 after purchasing an additional 1,045 shares during the last quarter. Finally, TCW Group Inc. raised its position in United Parcel Service by 85.4% during the 1st quarter. TCW Group Inc. now owns 306,954 shares of the transportation company's stock worth $33,762,000 after purchasing an additional 141,358 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on UPS. Barclays decreased their price target on United Parcel Service from $90.00 to $80.00 and set an "underweight" rating for the company in a report on Thursday. Morgan Stanley decreased their price target on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating for the company in a report on Wednesday. Bernstein Bank increased their price target on United Parcel Service from $132.00 to $133.00 in a report on Wednesday, April 30th. HSBC downgraded United Parcel Service from a "buy" rating to a "hold" rating and decreased their price target for the stock from $140.00 to $105.00 in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on United Parcel Service from $110.00 to $107.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $112.81.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded down $1.62 during mid-day trading on Friday, reaching $84.54. The company had a trading volume of 11,258,979 shares, compared to its average volume of 6,969,219. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 1.51. The firm has a market cap of $71.59 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.56 and a beta of 1.12. The company's 50-day moving average price is $99.32 and its 200-day moving average price is $106.14. United Parcel Service, Inc. has a one year low of $84.28 and a one year high of $145.01.

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

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Monday, May 19th. United Parcel Service's payout ratio is currently 97.62%.

Insider Buying and Selling

In other United Parcel Service news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the purchase, the chief executive officer owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, valued at $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by insiders.

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.