Amundi Pioneer Asset Management Inc. bought a new position in Ryder System, Inc. (NYSE:R) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,550 shares of the transportation company’s stock, valued at approximately $2,739,000. Amundi Pioneer Asset Management Inc. owned approximately 0.06% of Ryder System at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Ryder System by 369.7% in the fourth quarter. Bessemer Group Inc. now owns 1,832 shares of the transportation company’s stock worth $154,000 after acquiring an additional 1,442 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Ryder System during the fourth quarter worth approximately $204,000. Loews Corp acquired a new stake in shares of Ryder System during the fourth quarter worth approximately $210,000. Alambic Investment Management L.P. acquired a new stake in shares of Ryder System during the fourth quarter worth approximately $210,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of Ryder System during the third quarter worth approximately $221,000. 93.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ryder System stock opened at $71.25 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $3,846.70, a P/E ratio of 4.79, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. Ryder System, Inc. has a one year low of $62.52 and a one year high of $90.26.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Tuesday, February 20th were paid a $0.52 dividend. The ex-dividend date was Friday, February 16th. This is a boost from Ryder System’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 2.92%. Ryder System’s payout ratio is 13.97%.
Ryder System announced that its board has initiated a share buyback plan on Thursday, December 14th that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
R has been the subject of several research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $73.00 price target (down from $94.00) on shares of Ryder System in a report on Tuesday, February 20th. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Monday, January 15th. Buckingham Research restated a “buy” rating and set a $90.00 price target (down from $101.00) on shares of Ryder System in a report on Tuesday, February 20th. KeyCorp restated an “overweight” rating and set a $95.00 price target (down from $100.00) on shares of Ryder System in a report on Tuesday, February 20th. Finally, Seaport Global Securities restated a “hold” rating on shares of Ryder System in a report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Ryder System presently has a consensus rating of “Hold” and a consensus price target of $88.00.
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Ryder System Company Profile
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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