Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 125,260 United Parcel Service, Inc. (NYSE:UPS)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 125,260 shares of the transportation company’s stock, valued at approximately $15,795,000.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after buying an additional 33,989 shares during the period. Onyx Bridge Wealth Group LLC bought a new position in shares of United Parcel Service during the fourth quarter valued at approximately $461,000. Synovus Financial Corp lifted its stake in United Parcel Service by 8.6% in the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after acquiring an additional 6,941 shares during the period. HF Advisory Group LLC purchased a new stake in United Parcel Service in the fourth quarter worth $1,305,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in United Parcel Service by 27.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after acquiring an additional 28,108 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Stock Down 0.2 %

United Parcel Service stock opened at $115.09 on Friday. The firm has a market cap of $98.30 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.55 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. United Parcel Service, Inc. has a 12 month low of $109.40 and a 12 month high of $158.95. The stock has a fifty day simple moving average of $121.05 and a two-hundred day simple moving average of $127.47.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same period in the prior year, the business posted $2.47 earnings per share. Equities analysts predict that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $6.56 annualized dividend and a yield of 5.70%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BMO Capital Markets upgraded shares of United Parcel Service from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $155.00 to $150.00 in a report on Tuesday, December 10th. Truist Financial started coverage on shares of United Parcel Service in a research note on Thursday. They issued a “buy” rating and a $140.00 price target for the company. Stifel Nicolaus cut their price objective on United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Susquehanna reduced their target price on United Parcel Service from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Loop Capital lowered their target price on United Parcel Service from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.09.

United Parcel Service 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.