Jane Street Group LLC reduced its stake in Ryder System, Inc. (NYSE:R) by 76.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,483 shares of the transportation company’s stock after selling 14,571 shares during the period. Jane Street Group LLC’s holdings in Ryder System were worth $261,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama boosted its position in shares of Ryder System by 0.3% during the second quarter. Retirement Systems of Alabama now owns 69,328 shares of the transportation company’s stock worth $4,042,000 after buying an additional 183 shares during the period. World Asset Management Inc boosted its position in shares of Ryder System by 4.3% during the second quarter. World Asset Management Inc now owns 4,696 shares of the transportation company’s stock worth $274,000 after buying an additional 195 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Ryder System by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 21,697 shares of the transportation company’s stock worth $1,265,000 after buying an additional 200 shares during the period. Virginia Retirement Systems ET AL boosted its position in shares of Ryder System by 3.2% during the second quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the transportation company’s stock worth $571,000 after buying an additional 300 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Ryder System by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 21,488 shares of the transportation company’s stock worth $1,253,000 after purchasing an additional 304 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.
A number of equities research analysts have weighed in on the company. SunTrust Banks cut their target price on Ryder System to $65.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. KeyCorp cut their target price on Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. ValuEngine upgraded Ryder System from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Loop Capital downgraded Ryder System from a “buy” rating to a “hold” rating and cut their target price for the stock from $70.00 to $62.00 in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $71.57.
R opened at $50.47 on Friday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 8.08 and a beta of 1.85. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.59 and a quick ratio of 0.56. Ryder System, Inc. has a 1-year low of $44.80 and a 1-year high of $68.57. The business has a 50 day moving average price of $50.02 and a two-hundred day moving average price of $55.60.
Ryder System (NYSE:R) last released its earnings results on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.40. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. Equities analysts expect that Ryder System, Inc. will post 5.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, November 18th will be issued a $0.56 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.24 annualized dividend and a dividend yield of 4.44%. Ryder System’s dividend payout ratio is currently 38.69%.
Ryder System Company Profile
Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). The FMS segment offers full service leasing and leasing with flexible maintenance options, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.
Further Reading: Limitations of the P/E Growth ratio
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