Ryder System, Inc. (R) Position Cut by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its holdings in Ryder System, Inc. (NYSE:R) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,900 shares of the transportation company’s stock after selling 14,580 shares during the quarter. State of Tennessee Treasury Department owned about 0.12% of Ryder System worth $4,528,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Oppenheimer & Co. Inc. bought a new position in Ryder System during the 2nd quarter valued at $245,000. Cipher Capital LP boosted its stake in Ryder System by 152.2% during the 2nd quarter. Cipher Capital LP now owns 21,794 shares of the transportation company’s stock valued at $1,569,000 after purchasing an additional 13,153 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ryder System by 173.4% during the 2nd quarter. Principal Financial Group Inc. now owns 226,288 shares of the transportation company’s stock valued at $16,288,000 after purchasing an additional 143,515 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Ryder System by 4.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,099 shares of the transportation company’s stock valued at $439,000 after purchasing an additional 282 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ryder System by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 156 shares in the last quarter. 89.54% of the stock is owned by institutional investors and hedge funds.
Shares of Ryder System, Inc. (R) opened at 79.72 on Wednesday. The stock’s 50 day moving average price is $74.39 and its 200 day moving average price is $72.06. Ryder System, Inc. has a 1-year low of $62.03 and a 1-year high of $85.42. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.20 and a beta of 1.37.
Ryder System (NYSE:R) last released its earnings results on Wednesday, July 26th. The transportation company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.07. Ryder System had a net margin of 3.17% and a return on equity of 11.71%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that Ryder System, Inc. will post $4.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, August 17th. This is a positive change from Ryder System’s previous quarterly dividend of $0.44. Ryder System’s payout ratio is currently 44.12%.
In other Ryder System news, insider John S. Sensing sold 4,502 shares of Ryder System stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $73.01, for a total transaction of $328,691.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis C. Cooke sold 9,650 shares of Ryder System stock in a transaction on Monday, July 31st. The stock was sold at an average price of $72.75, for a total transaction of $702,037.50. Following the sale, the insider now directly owns 2,883 shares of the company’s stock, valued at approximately $209,738.25. The disclosure for this sale can be found here. Insiders have sold a total of 40,427 shares of company stock valued at $2,933,827 in the last ninety days. Company insiders own 1.95% of the company’s stock.
A number of equities analysts have issued reports on the company. ValuEngine raised Ryder System from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. BidaskClub raised Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Buckingham Research assumed coverage on Ryder System in a research note on Monday, August 21st. They set a “buy” rating and a $85.00 price target for the company. Zacks Investment Research lowered Ryder System from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $68.00 price target on shares of Ryder System in a research note on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ryder System presently has an average rating of “Hold” and a consensus price target of $77.17.
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About Ryder System
Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.
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