Deprince Race & Zollo Inc. cut its stake in shares of Ryder System Inc. (NYSE:R) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 622,920 shares of the company’s stock after selling 107,697 shares during the period. Deprince Race & Zollo Inc.’s holdings in Ryder System were worth $38,085,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Prudential Financial Inc. increased its stake in Ryder System by 40.4% in the first quarter. Prudential Financial Inc. now owns 268,852 shares of the company’s stock worth $17,417,000 after buying an additional 77,300 shares during the last quarter. MSI Financial Services Inc increased its stake in Ryder System by 6,270.4% in the second quarter. MSI Financial Services Inc now owns 30,960 shares of the company’s stock worth $1,893,000 after buying an additional 30,474 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ryder System by 261.6% in the first quarter. JPMorgan Chase & Co. now owns 94,976 shares of the company’s stock worth $6,153,000 after buying an additional 68,707 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Ryder System during the first quarter worth approximately $22,300,000. Finally, Zurich Insurance Group Ltd FI increased its stake in Ryder System by 255.5% in the first quarter. Zurich Insurance Group Ltd FI now owns 48,700 shares of the company’s stock worth $3,155,000 after buying an additional 35,000 shares during the last quarter. Institutional investors own 90.95% of the company’s stock.
Shares of Ryder System Inc. (NYSE:R) traded up 2.34% during mid-day trading on Friday, reaching $65.95. 812,671 shares of the company were exchanged. Ryder System Inc. has a 12 month low of $45.12 and a 12 month high of $76.33. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 11.91 and a beta of 1.73. The firm’s 50-day moving average is $65.28 and its 200-day moving average is $65.67.
Ryder System (NYSE:R) last issued its earnings results on Wednesday, July 27th. The company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.02. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ryder System had a net margin of 4.44% and a return on equity of 16.21%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. On average, equities analysts forecast that Ryder System Inc. will post $5.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Monday, August 22nd were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.67%. This is a boost from Ryder System’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, August 18th. Ryder System’s dividend payout ratio (DPR) is presently 31.71%.
A number of research firms have recently commented on R. Zacks Investment Research downgraded Ryder System from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Royal Bank Of Canada restated a “hold” rating on shares of Ryder System in a report on Monday, June 13th. Credit Agricole SA began coverage on Ryder System in a report on Friday. They set a “buy” rating for the company. Finally, Robert W. Baird restated a “buy” rating on shares of Ryder System in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Ryder System presently has an average rating of “Buy” and a consensus price target of $81.57.
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 full service leasing, commercial rental, contract maintenance and contract-related maintenance of trucks, tractors and trailers to customers 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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