Ryder System, Inc. (NYSE:R) Director E Follin Smith Sells 1,044 Shares of Stock

Posted by Defense World Staff on May 10th, 2023

Ryder System, Inc. (NYSE:R – Get Rating) Director E Follin Smith sold 1,044 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $82.47, for a total transaction of $86,098.68. Following the completion of the sale, the director now owns 41,184 shares of the company’s stock, valued at approximately $3,396,444.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ryder System Stock Down 0.5 %

Shares of NYSE:R opened at $82.58 on Wednesday. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 4.96 and a beta of 1.56. The firm’s 50-day simple moving average is $86.28 and its 200-day simple moving average is $88.24. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 1.55. Ryder System, Inc. has a fifty-two week low of $65.69 and a fifty-two week high of $102.36.

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

Ryder System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Monday, May 22nd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, May 19th. Ryder System’s dividend payout ratio is currently 14.90%.

Ryder System declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 15th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

R has been the subject of a number of research analyst reports. Wolfe Research raised shares of Ryder System from a “peer perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Tuesday, January 10th. Stifel Nicolaus reduced their price objective on shares of Ryder System from $107.00 to $105.00 in a report on Thursday, April 27th. StockNews.com upgraded shares of Ryder System from a “buy” rating to a “strong-buy” rating in a report on Friday, March 31st. Robert W. Baird raised their price objective on shares of Ryder System from $93.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Finally, Wells Fargo & Company cut their price target on shares of Ryder System from $100.00 to $80.00 in a research note on Thursday, April 27th. Three investment 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. According to data from MarketBeat, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Hedge Funds Weigh In On Ryder System

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in R. JPMorgan Chase & Co. raised its position in Ryder System by 13.6% during the first quarter. JPMorgan Chase & Co. now owns 193,131 shares of the transportation company’s stock worth $15,322,000 after acquiring an additional 23,111 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Ryder System in the first quarter valued at approximately $290,000. MetLife Investment Management LLC raised its position in shares of Ryder System by 33.3% in the first quarter. MetLife Investment Management LLC now owns 34,694 shares of the transportation company’s stock valued at $2,752,000 after buying an additional 8,674 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ryder System by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,678 shares of the transportation company’s stock valued at $1,561,000 after buying an additional 1,876 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Ryder System by 12.5% in the first quarter. Great West Life Assurance Co. Can now owns 32,930 shares of the transportation company’s stock valued at $2,691,000 after buying an additional 3,652 shares during the last quarter. Institutional investors and hedge funds own 83.69% of the company’s stock.

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).