Ryder System, Inc. (NYSE:R) Shares Purchased by Franklin Resources Inc.

Posted by Defense World Staff on Jun 2nd, 2023

Franklin Resources Inc. raised its stake in shares of Ryder System, Inc. (NYSE:R – Get Rating) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,692 shares of the transportation company’s stock after purchasing an additional 18,598 shares during the period. Franklin Resources Inc. owned 0.20% of Ryder System worth $8,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of R. Romano Brothers AND Company purchased a new position in shares of Ryder System in the fourth quarter valued at $25,000. CoreCap Advisors LLC purchased a new position in shares of Ryder System in the fourth quarter valued at $27,000. C M Bidwell & Associates Ltd. boosted its stake in shares of Ryder System by 3,250.0% in 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 period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Ryder System in the third quarter valued at $91,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Ryder System in the second quarter valued at $122,000. Institutional investors and hedge funds own 83.69% of the company’s stock.

Insider Activity

In related news, Director Luis P. Nieto, Jr. sold 2,112 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $83.29, for a total transaction of $175,908.48. Following the transaction, the director now owns 27,779 shares of the company’s stock, valued at $2,313,712.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Luis P. Nieto, Jr. sold 2,112 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $83.29, for a total transaction of $175,908.48. Following the transaction, the director now owns 27,779 shares of the company’s stock, valued at $2,313,712.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director E Follin Smith sold 1,044 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $82.47, for a total transaction of $86,098.68. Following the transaction, the director now directly owns 41,184 shares in the company, valued at approximately $3,396,444.48. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Ryder System Stock Performance

NYSE:R opened at $79.96 on Friday. Ryder System, Inc. has a twelve month low of $65.69 and a twelve month high of $102.36. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $82.75 and a 200-day moving average of $87.93. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 4.81 and a beta of 1.56.

Ryder System (NYSE:R – Get Rating) last announced its earnings results on Wednesday, April 26th. The transportation company reported $2.81 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.15). Ryder System had a return on equity of 26.40% and a net margin of 6.86%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the business earned $3.59 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts forecast that Ryder System, Inc. will post 11.82 earnings per share for the current fiscal 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Monday, May 22nd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 19th. Ryder System’s dividend payout ratio is 14.90%.

Wall Street Analysts Forecast Growth

R has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Ryder System in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Ryder System from $100.00 to $80.00 in a research note on Thursday, April 27th. Stifel Nicolaus reduced their price target on shares of Ryder System from $107.00 to $105.00 in a research report on Thursday, April 27th. Stephens raised their price target on shares of Ryder System from $91.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. Finally, Robert W. Baird raised their price target on shares of Ryder System from $93.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ryder System has an average rating of “Hold” and a consensus 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).