Geode Capital Management LLC boosted its stake in Ryder System, Inc. (NYSE:R) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,881 shares of the transportation company’s stock after purchasing an additional 5,642 shares during the period. Geode Capital Management LLC owned about 0.83% of Ryder System worth $36,772,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in Ryder System in the fourth quarter valued at $3,215,000. Loews Corp acquired a new stake in Ryder System in the fourth quarter valued at $210,000. Personal Resources Investment & Strategic Management Inc. acquired a new stake in Ryder System in the fourth quarter valued at $2,748,000. Martingale Asset Management L P acquired a new stake in Ryder System in the fourth quarter valued at $1,533,000. Finally, OppenheimerFunds Inc. grew its holdings in Ryder System by 6.4% during the 4th quarter. OppenheimerFunds Inc. now owns 24,954 shares of the transportation company’s stock worth $2,100,000 after acquiring an additional 1,496 shares during the period. Institutional investors and hedge funds own 93.35% of the company’s stock.
R stock opened at $75.93 on Wednesday. Ryder System, Inc. has a 1 year low of $62.52 and a 1 year high of $90.26. The firm has a market cap of $3,997.16, a PE ratio of 16.69, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.66 and a quick ratio of 0.62.
Ryder System (NYSE:R) last announced its quarterly earnings results on Friday, February 16th. The transportation company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.01. Ryder System had a net margin of 10.78% and a return on equity of 10.47%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities analysts expect that Ryder System, Inc. will post 5.61 earnings per share for the current year.
Ryder System declared that its board has approved a stock buyback program on Thursday, December 14th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.08 annualized dividend and a dividend yield of 2.74%. This is a boost from Ryder System’s previous quarterly dividend of $0.46. Ryder System’s dividend payout ratio (DPR) is currently 13.97%.
A number of analysts have weighed in on the company. Seaport Global Securities reiterated a “hold” rating on shares of Ryder System in a report on Friday, February 23rd. Stifel Nicolaus reiterated a “hold” rating on shares of Ryder System in a report on Friday, February 23rd. Zacks Investment Research downgraded Ryder System from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Buckingham Research reiterated a “buy” rating and set a $90.00 price target (down from $101.00) on shares of Ryder System in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $73.00 price target (down from $94.00) on shares of Ryder System in a report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ryder System currently has an average rating of “Hold” and an average target price of $88.00.
Ryder System Company Profile
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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