DAVENPORT & Co LLC Makes New $557,000 Investment in Ryder System, Inc. (NYSE:R)

DAVENPORT & Co LLC purchased a new position in shares of Ryder System, Inc. (NYSE:R - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,870 shares of the transportation company's stock, valued at approximately $557,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Ryder System in the fourth quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Ryder System in the first quarter valued at approximately $26,000. Curat Global LLC bought a new stake in Ryder System in the first quarter valued at approximately $55,000. Kapitalo Investimentos Ltda bought a new stake in Ryder System in the fourth quarter valued at approximately $59,000. Finally, New Age Alpha Advisors LLC bought a new stake in Ryder System in the fourth quarter valued at approximately $86,000. 87.47% of the stock is owned by institutional investors.

Ryder System Price Performance

Shares of Ryder System stock traded up $1.05 during midday trading on Tuesday, hitting $170.31. 385,598 shares of the company traded hands, compared to its average volume of 374,829. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 14.85 and a beta of 0.97. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.73 and a current ratio of 0.73. The firm's fifty day moving average price is $152.61 and its 200-day moving average price is $152.25. Ryder System, Inc. has a 12 month low of $117.17 and a 12 month high of $172.72.

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

Ryder System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 19th were given a dividend of $0.81 per share. The ex-dividend date was Monday, May 19th. This represents a $3.24 annualized dividend and a yield of 1.90%. Ryder System's dividend payout ratio is presently 28.25%.

Insider Activity at Ryder System

In other news, Director E Follin Smith sold 1,243 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the transaction, the director owned 39,802 shares in the company, valued at approximately $5,746,612.76. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert E. Sanchez sold 18,496 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 40,824 shares in the company, valued at $6,357,521.52. This trade represents a 31.18% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

R has been the subject of several research analyst reports. Barclays initiated coverage on shares of Ryder System in a report on Monday, June 9th. They issued an "overweight" rating and a $190.00 price target for the company. Stephens reduced their price target on shares of Ryder System from $168.00 to $150.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. increased their target price on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Ryder System from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ryder System currently has an average rating of "Moderate Buy" and a consensus target price of $173.50.

Ryder System 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.