Point72 Hong Kong Ltd Buys New Stake in Ryder System, Inc. (NYSE:R)

Point72 Hong Kong Ltd bought a new stake in Ryder System, Inc. (NYSE:R) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,284 shares of the transportation company’s stock, valued at approximately $407,000.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Ryder System by 34.9% in the fourth quarter. Wellington Management Group LLP now owns 3,442,545 shares of the transportation company’s stock valued at $396,099,000 after acquiring an additional 890,986 shares in the last quarter. Sei Investments Co. boosted its stake in Ryder System by 29.1% in the fourth quarter. Sei Investments Co. now owns 756,302 shares of the transportation company’s stock valued at $87,024,000 after acquiring an additional 170,650 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ryder System by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock valued at $627,800,000 after acquiring an additional 109,930 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ryder System by 242.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 92,666 shares of the transportation company’s stock valued at $11,138,000 after acquiring an additional 65,609 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Ryder System by 13.5% in the second quarter. Victory Capital Management Inc. now owns 460,134 shares of the transportation company’s stock valued at $57,001,000 after acquiring an additional 54,605 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Ryder System Trading Down 2.6 %

Shares of Ryder System stock opened at $144.73 on Friday. Ryder System, Inc. has a 12-month low of $91.31 and a 12-month high of $150.00. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.09. The stock has a market cap of $6.26 billion, a PE ratio of 18.85 and a beta of 1.28. The company has a 50-day moving average of $137.81 and a two-hundred day moving average of $126.59.

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

Ryder System Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Monday, August 19th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from Ryder System’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, August 19th. Ryder System’s dividend payout ratio (DPR) is 42.19%.

Insider Transactions at Ryder System

In other news, EVP Francisco Jr. Lopez sold 12,730 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 47,779 shares of the company’s stock, valued at approximately $6,656,570.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Vertical Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and increased their target price for the stock from $125.00 to $145.00 in a research note on Friday, June 14th. StockNews.com downgraded shares of Ryder System from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th. Robert W. Baird raised their price objective on shares of Ryder System from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Morgan Stanley started coverage on shares of Ryder System in a research report on Monday, June 24th. They issued an “overweight” rating and a $165.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Ryder System has an average rating of “Moderate Buy” and an average target price of $137.86.

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.