Croban Invests $1.28 Million in Ryder System, Inc. (NYSE:R)

Croban purchased a new position in shares of Ryder System, Inc. (NYSE:R - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,917 shares of the transportation company's stock, valued at approximately $1,282,000. Ryder System comprises approximately 1.2% of Croban's investment portfolio, making the stock its 29th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC purchased a new stake in Ryder System during the fourth quarter valued at about $40,475,000. State of Alaska Department of Revenue boosted its stake in Ryder System by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 4,928 shares of the transportation company's stock worth $708,000 after purchasing an additional 105 shares during the period. DAVENPORT & Co LLC purchased a new position in Ryder System during the 1st quarter valued at about $557,000. GAMMA Investing LLC lifted its holdings in shares of Ryder System by 41.8% in the first quarter. GAMMA Investing LLC now owns 1,278 shares of the transportation company's stock worth $184,000 after buying an additional 377 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in Ryder System by 10.3% in the 4th quarter. Gotham Asset Management LLC now owns 73,785 shares of the transportation company's stock valued at $11,574,000 after purchasing an additional 6,908 shares during the period. 87.47% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Robert E. Sanchez sold 18,496 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $155.73, for a total transaction of $2,880,382.08. Following the completion of the sale, the chief executive officer directly owned 40,824 shares in the company, valued at $6,357,521.52. This represents a 31.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director E Follin Smith sold 1,243 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $144.38, for a total transaction of $179,464.34. Following the completion of the transaction, the director owned 39,802 shares of the company's stock, valued at $5,746,612.76. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Ryder System Price Performance

Shares of R stock traded down $2.03 on Monday, hitting $174.36. 268,276 shares of the stock traded hands, compared to its average volume of 373,885. The firm has a 50 day simple moving average of $155.29 and a two-hundred day simple moving average of $152.68. Ryder System, Inc. has a 52 week low of $123.36 and a 52 week high of $177.40. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 15.20 and a beta of 0.97. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73.

Ryder System (NYSE:R - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. Ryder System's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $2.14 earnings per share. As a group, equities research analysts predict that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 18th will be paid a $0.91 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.64 annualized dividend and a yield of 2.09%. This is an increase from Ryder System's previous quarterly dividend of $0.81. Ryder System's dividend payout ratio (DPR) is presently 28.25%.

Wall Street Analyst Weigh In

R has been the subject of several recent research reports. Robert W. Baird initiated coverage on shares of Ryder System in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $186.00 price target for the company. Wall Street Zen downgraded Ryder System from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Stephens cut their target price on Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Barclays started coverage on Ryder System in a research report on Monday, June 9th. They set an "overweight" rating and a $190.00 price target for the company. Finally, Wolfe Research upgraded Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price objective on the stock in a research report on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $173.50.

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.