Cornerstone Capital Management Holdings LLC. lowered its holdings in shares of Ryder System, Inc. (NYSE:R) by 42.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,505 shares of the transportation company’s stock after selling 150,402 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.39% of Ryder System worth $17,381,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Ryder System by 17.1% during the 4th quarter. BlackRock Inc. now owns 5,870,993 shares of the transportation company’s stock valued at $494,161,000 after purchasing an additional 855,742 shares during the period. Pzena Investment Management LLC increased its position in shares of Ryder System by 145.2% during the 4th quarter. Pzena Investment Management LLC now owns 1,380,890 shares of the transportation company’s stock valued at $116,230,000 after purchasing an additional 817,610 shares during the period. Impala Asset Management LLC acquired a new position in shares of Ryder System during the 3rd quarter valued at $23,404,000. Schroder Investment Management Group increased its position in shares of Ryder System by 22.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,073,478 shares of the transportation company’s stock valued at $90,182,000 after purchasing an additional 198,098 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Ryder System by 101.9% during the 3rd quarter. Jane Street Group LLC now owns 3,477 shares of the transportation company’s stock valued at $294,000 after purchasing an additional 188,010 shares during the period. 93.38% of the stock is currently owned by hedge funds and other institutional investors.
Ryder System, Inc. (R) opened at $74.70 on Friday. Ryder System, Inc. has a twelve month low of $62.52 and a twelve month high of $90.26. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $3,960.00, a price-to-earnings ratio of 23.27, a PEG ratio of 0.91 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 16th. This is a positive change from Ryder System’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.78%. Ryder System’s payout ratio is presently 64.80%.
Ryder System declared that its board has approved a share repurchase program on Thursday, December 14th that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several brokerages have recently issued reports on R. Stifel Nicolaus reiterated a “hold” rating on shares of Ryder System in a research report on Friday, February 23rd. Zacks Investment Research upgraded Ryder System from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Seaport Global Securities reiterated a “hold” rating on shares of Ryder System in a research report on Friday, February 23rd. KeyCorp reiterated an “overweight” rating and set a $95.00 price target (down from $100.00) on shares of Ryder System in a research report on Tuesday, February 20th. Finally, Buckingham Research restated a “buy” rating and issued a $90.00 target price (down from $101.00) on shares of Ryder System in a report on Tuesday, February 20th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $88.00.
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About Ryder System
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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