Shell Asset Management Co. Decreases Stake in Ryder System, Inc. (NYSE:R)

Shell Asset Management Co. trimmed its position in shares of Ryder System, Inc. (NYSE:R) by 3.3% during the first quarter, Holdings Channel reports. The institutional investor owned 3,595 shares of the transportation company’s stock after selling 123 shares during the quarter. Shell Asset Management Co.’s holdings in Ryder System were worth $432,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 890,986 shares in the last quarter. Norges Bank purchased a new stake in Ryder System in the fourth quarter valued at $86,647,000. 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. grew its holdings in shares of Ryder System by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,223,396 shares of the transportation company’s stock worth $627,800,000 after purchasing an additional 109,930 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Ryder System by 3.8% during the fourth quarter. LSV Asset Management now owns 1,629,618 shares of the transportation company’s stock worth $187,504,000 after purchasing an additional 59,156 shares in the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

Insider Buying and Selling at Ryder System

In related news, CMO Karen M. Jones sold 6,776 shares of Ryder System stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of the transaction, the chief marketing officer now directly owns 5,666 shares of the company’s stock, valued at $682,413.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ryder System news, CMO Karen M. Jones sold 6,776 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $120.44, for a total transaction of $816,101.44. Following the completion of the transaction, the chief marketing officer now directly owns 5,666 shares in the company, valued at approximately $682,413.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert E. Sanchez sold 18,303 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $126.20, for a total transaction of $2,309,838.60. Following the completion of the sale, the chief executive officer now directly owns 125,969 shares in the company, valued at approximately $15,897,287.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,129 shares of company stock valued at $10,598,226. Corporate insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on R shares. Vertical Research raised Ryder System from a “hold” rating to a “buy” rating and upped their target price for the company from $125.00 to $145.00 in a research report on Friday, June 14th. Morgan Stanley initiated coverage on shares of Ryder System in a research report on Monday, June 24th. They set an “overweight” rating and a $165.00 target price on the stock. StockNews.com cut shares of Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. The Goldman Sachs Group increased their price target on shares of Ryder System from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ryder System from $126.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Ryder System currently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Ryder System Stock Performance

NYSE:R opened at $132.22 on Friday. Ryder System, Inc. has a 1-year low of $91.31 and a 1-year high of $136.41. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 17.22 and a beta of 1.29. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.13 and a quick ratio of 0.82. The firm’s fifty day moving average price is $123.82 and its 200 day moving average price is $118.91.

Ryder System (NYSE:R) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.12. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. Ryder System had a return on equity of 17.22% and a net margin of 4.06%. Ryder System’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.61 earnings per share. On average, sell-side analysts expect that Ryder System, Inc. will post 12.15 EPS for the current year.

Ryder System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Monday, August 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, August 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.45%. This is an increase from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s payout ratio is currently 36.98%.

Ryder System Company 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.