Kornitzer Capital Management Inc. KS Sells 3,380 Shares of United Parcel Service, Inc. (NYSE:UPS)

Kornitzer Capital Management Inc. KS lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,961 shares of the transportation company’s stock after selling 3,380 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in United Parcel Service were worth $10,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in United Parcel Service by 15,779.6% in the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after buying an additional 14,539,321 shares during the last quarter. Clearbridge Investments LLC boosted its position in United Parcel Service by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock worth $991,556,000 after purchasing an additional 406,248 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of United Parcel Service by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock worth $888,254,000 after buying an additional 20,426 shares during the period. American Century Companies Inc. raised its stake in shares of United Parcel Service by 10.5% during the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock worth $567,157,000 after buying an additional 393,434 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of United Parcel Service by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock worth $611,445,000 after buying an additional 101,349 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $134.17 on Friday. The business has a 50-day moving average of $131.83 and a 200 day moving average of $135.39. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $163.82. The stock has a market capitalization of $114.93 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.25.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. United Parcel Service’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. As a group, sell-side analysts forecast that United Parcel Service, Inc. will post 7.48 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Monday, November 18th. United Parcel Service’s payout ratio is presently 98.49%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UPS shares. Citigroup started coverage on United Parcel Service in a research note on Wednesday, October 9th. They set a “buy” rating and a $162.00 target price for the company. Susquehanna upped their target price on United Parcel Service from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Stephens reduced their target price on United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI increased their price objective on United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service has an average rating of “Moderate Buy” and a consensus target price of $151.71.

United Parcel Service Company 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.