State of Michigan Retirement System Sells 400 Shares of Ryder System, Inc. (NYSE:R)

State of Michigan Retirement System lessened its stake in Ryder System, Inc. (NYSE:R) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,530 shares of the transportation company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Ryder System were worth $1,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Ryder System in the 1st quarter valued at $25,000. GAMMA Investing LLC bought a new stake in Ryder System in the fourth quarter valued at about $45,000. Creekmur Asset Management LLC acquired a new position in Ryder System in the fourth quarter worth about $68,000. CWM LLC lifted its stake in Ryder System by 62.0% during the first quarter. CWM LLC now owns 643 shares of the transportation company’s stock worth $77,000 after purchasing an additional 246 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in Ryder System during the fourth quarter valued at approximately $102,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on R shares. Morgan Stanley initiated coverage on Ryder System in a report on Monday, June 24th. They issued an “overweight” rating and a $165.00 target price for the company. StockNews.com cut Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Vertical Research raised shares of Ryder System from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $145.00 in a report on Friday, June 14th. Stephens initiated coverage on shares of Ryder System in a research report on Monday, July 8th. They set an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Insider Activity

In other Ryder System news, EVP Francisco Jr. Lopez sold 12,730 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the transaction, the executive vice president now owns 47,779 shares in the company, valued at approximately $6,656,570.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.10% of the stock is currently owned by company insiders.

Ryder System Price Performance

Shares of R opened at $140.79 on Friday. The firm has a market capitalization of $6.17 billion, a PE ratio of 18.33 and a beta of 1.29. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74. The company’s 50-day moving average is $131.44 and its 200-day moving average is $122.68. Ryder System, Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $143.73.

Ryder System (NYSE:R) last issued its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $3.61 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts forecast that Ryder System, Inc. will post 12.19 EPS for the current year.

Ryder System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s dividend payout ratio (DPR) is currently 42.19%.

Ryder System Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.