Ryder System, Inc. $R Stock: ProShare Advisors LLC Trims Position

ProShare Advisors LLC decreased its position in Ryder System, Inc. (NYSE:R) by 13.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 99,380 shares of the transportation company’s stock after selling 15,808 shares during the period. ProShare Advisors LLC’s holdings in Ryder System were worth $22,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Ryder System in the second quarter worth $1,060,749,000. Dimensional Fund Advisors LP grew its holdings in shares of Ryder System by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,621,947 shares of the transportation company’s stock valued at $331,996,000 after buying an additional 6,652 shares in the last quarter. Bank of America Corp DE acquired a new position in Ryder System during the second quarter valued at $207,689,000. First Trust Advisors LP raised its position in Ryder System by 81.5% during the first quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock valued at $206,822,000 after buying an additional 453,697 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Ryder System in the 2nd quarter worth about $136,320,000. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citizens Jmp initiated coverage on shares of Ryder System in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Wells Fargo & Company upped their price objective on shares of Ryder System from $300.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Ryder System from $298.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Wall Street Zen upgraded Ryder System from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Stephens upped their target price on Ryder System from $280.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $296.67.

Insider Activity

In other news, CFO Cristina Gallo-Aquino sold 1,238 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $276.85, for a total transaction of $342,740.30. Following the completion of the sale, the chief financial officer owned 29,026 shares in the company, valued at approximately $8,035,848.10. This represents a 4.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Sanchez sold 1,653 shares of the stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $280.01, for a total value of $462,856.53. Following the transaction, the insider directly owned 40,828 shares in the company, valued at approximately $11,432,248.28. This represents a 3.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 35,852 shares of company stock valued at $10,092,270. 4.90% of the stock is currently owned by corporate insiders.

Ryder System Stock Up 1.3%

Ryder System stock opened at $286.35 on Tuesday. The company has a market capitalization of $10.94 billion, a P/E ratio of 21.83 and a beta of 1.05. The firm’s fifty day simple moving average is $245.73 and its 200-day simple moving average is $237.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.86. Ryder System, Inc. has a 1-year low of $161.41 and a 1-year high of $291.03.

Ryder System (NYSE:R) last released its quarterly earnings data on Thursday, October 22nd. The transportation company reported $4.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.18. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.38 billion. Ryder System had a net margin of 3.98% and a return on equity of 19.14%. Ryder System’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.57 EPS. Sell-side analysts forecast that Ryder System, Inc. will post 15.07 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 23rd will be given a $1.01 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.4%. Ryder System’s payout ratio is currently 30.79%.

Ryder System Profile

Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain and dedicated transportation services. Founded in 1933 by James Ryder and headquartered in Miami, Florida, the company serves businesses that rely on commercial vehicles, transportation networks and logistics infrastructure.

Through its Fleet Management Solutions business, Ryder offers full-service leasing, commercial vehicle rental, maintenance, fleet support and related services for trucks, tractors, trailers and other vehicles.