Kornitzer Capital Management Inc. KS Lowers Stock Holdings in United Parcel Service, Inc. $UPS

Kornitzer Capital Management Inc. KS lowered its position in United Parcel Service, Inc. (NYSE:UPS) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,466 shares of the transportation company’s stock after selling 4,841 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in United Parcel Service were worth $6,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in UPS. Graybill Wealth Management LTD. acquired a new stake in United Parcel Service in the first quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of United Parcel Service during the 2nd quarter valued at approximately $26,000. Citizens National Bank Trust Department lifted its position in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 210 shares during the period. Hemington Wealth Management lifted its position in shares of United Parcel Service by 68.9% during the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 115 shares during the period. Finally, Saudi Central Bank acquired a new stake in shares of United Parcel Service during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

Insider Activity

In related news, Director Christiana Smith Shi acquired 500 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director directly owned 500 shares of the company’s stock, valued at approximately $44,085. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Johnson acquired 5,000 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This trade represents a 96.90% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 17,182 shares of company stock valued at $1,477,382 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on UPS. Galvan Research reduced their price target on shares of United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Morgan Stanley reduced their price target on shares of United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research report on Wednesday, July 30th. Evercore ISI cut their price objective on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. Oppenheimer cut their price objective on United Parcel Service from $114.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Finally, Barclays cut their price objective on United Parcel Service from $90.00 to $80.00 and set an “underweight” rating for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $109.31.

United Parcel Service Stock Up 0.2%

UPS stock opened at $87.21 on Friday. The stock has a market capitalization of $73.91 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $140.33. The company has a 50 day moving average price of $85.52 and a two-hundred day moving average price of $93.18.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.79 earnings per share. As a group, sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.5%. United Parcel Service’s payout ratio is currently 97.62%.

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.