Insider Selling: Ryder System, Inc. (R) Insider Sells 32,328 Shares of Stock
Ryder System, Inc. (NYSE:R) insider Dennis C. Cooke sold 32,328 shares of Ryder System stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $81.46, for a total value of $2,633,438.88. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Ryder System (NYSE:R) last posted its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. Ryder System had a net margin of 2.75% and a return on equity of 10.72%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 20th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, November 17th. Ryder System’s dividend payout ratio is currently 49.86%.
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Hedge funds have recently modified their holdings of the stock. BlueMountain Capital Management LLC purchased a new stake in Ryder System in the second quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ryder System by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,953 shares of the transportation company’s stock worth $141,000 after purchasing an additional 156 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Ryder System by 1.1% in the second quarter. JFS Wealth Advisors LLC now owns 2,160 shares of the transportation company’s stock worth $156,000 after purchasing an additional 24 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in Ryder System by 94.7% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,550 shares of the transportation company’s stock worth $183,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Clear Investment Research LLC purchased a new stake in Ryder System in the second quarter worth approximately $190,000. Institutional investors own 89.64% of the company’s stock.
A number of brokerages have recently weighed in on R. ValuEngine upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Ryder System from a “buy” rating to a “hold” rating in a research note on Monday. KeyCorp upgraded Ryder System from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, September 13th. Robert W. Baird restated an “outperform” rating and issued a $98.00 target price (up previously from $84.00) on shares of Ryder System in a research note on Monday, October 2nd. Finally, BidaskClub upgraded Ryder System from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.00.
About Ryder System
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 leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally 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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