Allianz Asset Management GmbH decreased its stake in shares of Ryder System, Inc. (NYSE:R) by 47.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,135 shares of the transportation company’s stock after selling 62,475 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Ryder System worth $5,819,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of R. Bessemer Group Inc. boosted its position in shares of Ryder System by 369.7% during the fourth quarter. Bessemer Group Inc. now owns 1,832 shares of the transportation company’s stock worth $154,000 after acquiring an additional 1,442 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Ryder System during the fourth quarter worth $204,000. Alambic Investment Management L.P. bought a new position in Ryder System during the fourth quarter valued at $210,000. Loews Corp bought a new position in Ryder System during the fourth quarter valued at $210,000. Finally, King Luther Capital Management Corp bought a new position in Ryder System during the third quarter valued at $221,000. Hedge funds and other institutional investors own 93.38% of the company’s stock.
R has been the subject of several research reports. Zacks Investment Research upgraded shares of Ryder System from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, January 15th. Buckingham Research reiterated a “buy” rating and set a $90.00 price objective (down previously from $101.00) on shares of Ryder System in a research report on Tuesday, February 20th. Stifel Nicolaus reiterated a “hold” rating and set a $86.00 price objective on shares of Ryder System in a research report on Thursday, January 18th. Seaport Global Securities reiterated a “hold” rating on shares of Ryder System in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $73.00 price objective (down previously from $94.00) on shares of Ryder System in a research report on Tuesday, February 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Ryder System presently has a consensus rating of “Hold” and an average price target of $88.00.
Ryder System (NYSE:R) last released its earnings results on Friday, February 16th. The transportation company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.01. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.84 billion. Ryder System had a net margin of 10.78% and a return on equity of 10.47%. The business’s revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. equities research analysts forecast that Ryder System, Inc. will post 5.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Tuesday, February 20th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, February 16th. This is a positive change from Ryder System’s previous quarterly dividend of $0.46. Ryder System’s dividend payout ratio (DPR) is 13.97%.
Ryder System announced that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase 1,500,000 shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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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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