Oppenheimer Asset Management Inc. Sells 19,942 Shares of Ryder System, Inc. (NYSE:R)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. lessened its holdings in shares of Ryder System, Inc. (NYSE:R – Get Rating) by 61.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,447 shares of the transportation company’s stock after selling 19,942 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ryder System were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Romano Brothers AND Company bought a new position in Ryder System during the fourth quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. grew its holdings in Ryder System by 3,250.0% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,005 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 975 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Ryder System during the third quarter valued at approximately $91,000. Cutler Group LLC CA acquired a new position in Ryder System during the third quarter valued at approximately $113,000. Finally, Point72 Hong Kong Ltd acquired a new position in Ryder System during the second quarter valued at approximately $122,000. Institutional investors own 83.69% of the company’s stock.

Ryder System Trading Up 4.1 %

Shares of Ryder System stock opened at $82.85 on Friday. The company’s fifty day simple moving average is $86.87 and its 200-day simple moving average is $87.97. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 4.98 and a beta of 1.56. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 1.55. Ryder System, Inc. has a 1 year low of $65.69 and a 1 year high of $102.36.

Ryder System (NYSE:R – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($0.15). Ryder System had a return on equity of 26.40% and a net margin of 6.86%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm earned $3.59 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Ryder System, Inc. will post 11.81 EPS for the current year.

Ryder System announced that its board has authorized a share buyback program on Wednesday, February 15th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Ryder System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Monday, May 22nd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.99%. Ryder System’s dividend payout ratio is currently 14.90%.

Analysts Set New Price Targets

R has been the topic of several analyst reports. Wolfe Research upgraded Ryder System from a “peer perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Tuesday, January 10th. StockNews.com upgraded Ryder System from a “buy” rating to a “strong-buy” rating in a report on Friday, March 31st. Stifel Nicolaus lowered their price target on Ryder System from $107.00 to $105.00 in a report on Thursday, April 27th. Robert W. Baird raised their price objective on shares of Ryder System from $93.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Finally, Stephens raised their price objective on shares of Ryder System from $91.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 16th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ryder System presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

About Ryder System

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Ryder System, Inc is a logistics and transportation company, which engages in providing supply chain, dedicated transportation, and fleet management solutions. It operates through the following business segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS).

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Institutional Ownership by Quarter for Ryder System (NYSE:R)

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