Manning & Napier Advisors LLC Invests $181.95 Million in United Parcel Service, Inc. $UPS

Key Points

• Manning & Napier Advisors disclosed a new stake in United Parcel Service, buying 1,826,084 shares worth about $181.95 million. The position now represents roughly 2.3% of the fund’s portfolio.
• UPS reported better-than-expected quarterly results, with earnings of $1.07 per share versus estimates of $1.02 and revenue of $21.20 billion versus expectations of $20.99 billion. However, revenue still declined 1.4% year over year.
• The company announced a quarterly dividend of $1.64 per share, equal to an annualized yield of about 6.5%. Analysts currently have a consensus rating of Hold with an average price target of $111.87.

Manning & Napier Advisors LLC bought a new stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,826,084 shares of the transportation company's stock, valued at approximately $181,951,000. United Parcel Service comprises approximately 2.3% of Manning & Napier Advisors LLC's portfolio, making the stock its 12th largest holding. Manning & Napier Advisors LLC owned 0.22% of United Parcel Service at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UPS. Brighton Jones LLC increased its holdings in United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock valued at $1,529,000 after purchasing an additional 4,723 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in United Parcel Service in the second quarter worth $277,000. SVB Wealth LLC bought a new stake in shares of United Parcel Service during the second quarter worth $848,000. Treasurer of the State of North Carolina increased its stake in shares of United Parcel Service by 2.7% in the second quarter. Treasurer of the State of North Carolina now owns 342,866 shares of the transportation company's stock valued at $34,609,000 after buying an additional 9,124 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of United Parcel Service by 154.5% in the second quarter. Ieq Capital LLC now owns 104,819 shares of the transportation company's stock valued at $10,580,000 after buying an additional 63,629 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

United Parcel Service Price Performance

Shares of UPS stock opened at $100.74 on Friday. The firm has a market cap of $85.54 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.59 and a beta of 1.06. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $122.41. The company has a quick ratio of 1.22, a current ratio of 1.21 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $102.47 and a 200 day moving average price of $102.21.

United Parcel Service (NYSE:UPS - Get Free Report) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.05. The company had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.99 billion. United Parcel Service had a net margin of 5.94% and a return on equity of 35.95%. The company's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 EPS. Research analysts expect that United Parcel Service, Inc. will post 7.1 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Monday, May 18th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, May 18th. United Parcel Service's dividend payout ratio is currently 106.15%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America raised shares of United Parcel Service from an "underperform" rating to a "neutral" rating and set a $114.00 price objective on the stock in a report on Friday, January 9th. Citigroup boosted their target price on shares of United Parcel Service from $118.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of United Parcel Service from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. Oppenheimer raised their price target on shares of United Parcel Service from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. Finally, Sanford C. Bernstein boosted their price objective on shares of United Parcel Service from $122.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $111.87.

United Parcel Service Profile

United Parcel Service NYSE: UPS is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.

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