United Parcel Service, Inc. $UPS Shares Purchased by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. increased its stake in United Parcel Service by 28.0% in Q3, buying 19,289 shares to hold 88,067 shares valued at about $7.36 million.
• Q3 results: UPS reported $1.74 EPS versus $1.31 expected and revenue of $21.42 billion (beat estimates) although revenue was down 3.7% year‑over‑year.
• Dividend and payout: UPS paid a quarterly dividend of $1.64 ($6.56 annualized), yielding 6.4%, with a dividend payout ratio of 101.39%.

Addenda Capital Inc. boosted its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 28.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,067 shares of the transportation company's stock after buying an additional 19,289 shares during the period. Addenda Capital Inc.'s holdings in United Parcel Service were worth $7,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Evelyn Partners Investment Management Europe Ltd boosted its stake in United Parcel Service by 110.1% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 250 shares of the transportation company's stock worth $25,000 after purchasing an additional 131 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in United Parcel Service in the second quarter valued at $26,000. Saudi Central Bank purchased a new stake in shares of United Parcel Service during the 1st quarter worth $32,000. Flaharty Asset Management LLC purchased a new stake in shares of United Parcel Service during the 1st quarter worth approximately $33,000. Finally, RMG Wealth Management LLC acquired a new stake in shares of United Parcel Service in the second quarter valued at approximately $34,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

United Parcel Service Stock Up 1.2%

Shares of UPS opened at $102.16 on Friday. The company has a 50-day simple moving average of $93.59 and a 200-day simple moving average of $92.80. The firm has a market capitalization of $86.67 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.41 and a beta of 1.11. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $136.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.30 and a current ratio of 1.30.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.43. United Parcel Service had a return on equity of 40.07% and a net margin of 6.15%.The business had revenue of $21.42 billion for the quarter, compared to analyst estimates of $20.94 billion. During the same period in the prior year, the company earned $1.76 EPS. United Parcel Service's revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Monday, November 17th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Monday, November 17th. United Parcel Service's dividend payout ratio (DPR) is presently 101.39%.

Analyst Upgrades and Downgrades

UPS has been the topic of a number of analyst reports. Stephens upgraded United Parcel Service to a "hold" rating in a research note on Wednesday, October 29th. Susquehanna lifted their target price on shares of United Parcel Service from $100.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, October 29th. Truist Financial lifted their price objective on United Parcel Service from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of United Parcel Service from $85.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of United Parcel Service in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.09.

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.

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