Cerebellum GP LLC increased its position in shares of Ryder System, Inc. (NYSE:R) by 31.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,319 shares of the transportation company’s stock after acquiring an additional 2,001 shares during the period. Cerebellum GP LLC’s holdings in Ryder System were worth $431,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its position in Ryder System by 7.1% during the second quarter. BlackRock Inc. now owns 6,643,848 shares of the transportation company’s stock worth $387,337,000 after buying an additional 440,942 shares in the last quarter. Vanguard Group Inc. increased its position in Ryder System by 0.5% during the second quarter. Vanguard Group Inc. now owns 5,038,310 shares of the transportation company’s stock worth $293,734,000 after buying an additional 22,701 shares in the last quarter. Pzena Investment Management LLC increased its position in Ryder System by 7.8% during the second quarter. Pzena Investment Management LLC now owns 2,341,136 shares of the transportation company’s stock worth $136,488,000 after buying an additional 169,329 shares in the last quarter. Luminus Management LLC increased its position in Ryder System by 22.6% during the second quarter. Luminus Management LLC now owns 2,269,889 shares of the transportation company’s stock worth $132,335,000 after buying an additional 418,038 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in Ryder System by 26.9% during the second quarter. Deprince Race & Zollo Inc. now owns 1,081,131 shares of the transportation company’s stock worth $63,030,000 after buying an additional 228,955 shares in the last quarter. 88.56% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Luis P. Nieto, Jr. sold 2,293 shares of Ryder System stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $46.67, for a total value of $107,014.31. Following the completion of the sale, the director now owns 23,757 shares of the company’s stock, valued at $1,108,739.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by insiders.
Shares of NYSE:R opened at $49.81 on Tuesday. The company has a market cap of $2.60 billion, a P/E ratio of 8.60 and a beta of 1.85. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 2.54. Ryder System, Inc. has a 52 week low of $44.80 and a 52 week high of $68.57. The business has a fifty day simple moving average of $50.19 and a 200-day simple moving average of $55.48.
Ryder System (NYSE:R) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.40. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 earnings per share. Sell-side analysts expect that Ryder System, Inc. will post 5.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, November 18th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, November 15th. Ryder System’s dividend payout ratio is currently 38.69%.
R has been the subject of several recent research reports. Loop Capital downgraded Ryder System from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. SunTrust Banks dropped their price target on Ryder System to $65.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. ValuEngine raised Ryder System from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, KeyCorp dropped their price target on Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $68.67.
About Ryder System
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.
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