Kornitzer Capital Management Inc. KS Increases Stake in United Parcel Service, Inc. (UPS)

Kornitzer Capital Management Inc. KS grew its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,727 shares of the transportation company’s stock after purchasing an additional 4,520 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in United Parcel Service were worth $6,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of United Parcel Service by 2.2% during the first quarter. Vanguard Group Inc. now owns 47,140,675 shares of the transportation company’s stock valued at $5,058,196,000 after purchasing an additional 1,030,326 shares during the period. BlackRock Inc. raised its holdings in shares of United Parcel Service by 2,550.9% during the first quarter. BlackRock Inc. now owns 45,051,373 shares of the transportation company’s stock valued at $4,834,013,000 after purchasing an additional 43,351,873 shares during the period. Wellington Management Group LLP raised its holdings in shares of United Parcel Service by 4.0% during the first quarter. Wellington Management Group LLP now owns 29,387,614 shares of the transportation company’s stock valued at $3,153,291,000 after purchasing an additional 1,117,802 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of United Parcel Service by 5.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 24,295,470 shares of the transportation company’s stock valued at $2,606,905,000 after purchasing an additional 1,246,981 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of United Parcel Service by 10.0% during the first quarter. Clearbridge Investments LLC now owns 6,520,411 shares of the transportation company’s stock valued at $699,640,000 after purchasing an additional 593,756 shares during the period. Hedge funds and other institutional investors own 52.94% of the company’s stock.

In other United Parcel Service news, insider James J. Barber sold 3,556 shares of United Parcel Service stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $110.85, for a total value of $394,182.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Gershenhorn sold 17,699 shares of United Parcel Service stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $114.10, for a total transaction of $2,019,455.90. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by insiders.

Shares of United Parcel Service, Inc. (NYSE UPS) opened at 117.35 on Friday. United Parcel Service, Inc. has a 1-year low of $102.12 and a 1-year high of $120.44. The firm has a 50-day moving average of $113.33 and a 200 day moving average of $108.98. The stock has a market cap of $101.62 billion, a price-to-earnings ratio of 28.85 and a beta of 0.88.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, July 27th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.12. The business had revenue of $15.75 billion during the quarter, compared to analysts’ expectations of $15.49 billion. United Parcel Service had a net margin of 5.68% and a return on equity of 417.18%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.43 earnings per share. Equities research analysts forecast that United Parcel Service, Inc. will post $6.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Monday, August 14th were issued a $0.83 dividend. The ex-dividend date was Thursday, August 10th. This represents a $3.32 annualized dividend and a yield of 2.83%. United Parcel Service’s dividend payout ratio (DPR) is presently 81.57%.

UPS has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of United Parcel Service from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub upgraded shares of United Parcel Service from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Sanford C. Bernstein restated an “outperform” rating and issued a $127.00 target price on shares of United Parcel Service in a report on Monday, July 3rd. Citigroup Inc. upgraded shares of United Parcel Service from a “neutral” rating to a “buy” rating and upped their target price for the stock from $115.00 to $128.00 in a report on Tuesday, August 8th. Finally, TheStreet upgraded shares of United Parcel Service from a “c” rating to a “b” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $114.80.

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About United Parcel Service

United Parcel Service, Inc (UPS) is a package delivery company. The Company is a provider of global supply chain management solutions. The Company operates through three segments: U.S. Domestic Package operations, International Package operations, and Supply Chain & Freight operations. As of December 31, 2016, the Company delivered packages in over 220 countries and territories.

Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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