Mackenzie Financial Corp Boosts Stock Holdings in Ryder System, Inc. (NYSE:R)

Key Points

• Mackenzie Financial Corp increased its stake in Ryder System, Inc. by 12.5%, acquiring an additional 2,039 shares to own a total of 18,385 shares valued at approximately $2.64 million.
• Ryder System declared a quarterly dividend of $0.91 per share, up from the previous $0.81, representing an annualized yield of 2.1%.
• The company's stock is down 2.4% recently, with a market cap of $7.08 billion and consensus earnings per share expectation of $13.68 for the current year.

Mackenzie Financial Corp lifted its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 12.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,385 shares of the transportation company's stock after acquiring an additional 2,039 shares during the quarter. Mackenzie Financial Corp's holdings in Ryder System were worth $2,644,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Leigh Baldwin & CO. LLC bought a new position in Ryder System in the 4th quarter valued at $40,475,000. GAMMA Investing LLC grew its position in Ryder System by 20,298.3% during the first quarter. GAMMA Investing LLC now owns 183,789 shares of the transportation company's stock valued at $26,431,000 after buying an additional 182,888 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Ryder System during the fourth quarter worth about $16,317,000. Northern Trust Corp raised its position in Ryder System by 28.1% in the fourth quarter. Northern Trust Corp now owns 447,890 shares of the transportation company's stock worth $70,256,000 after acquiring an additional 98,196 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in Ryder System by 2,500.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 91,393 shares of the transportation company's stock valued at $14,336,000 after acquiring an additional 87,879 shares during the last quarter. 87.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on R shares. JPMorgan Chase & Co. lifted their price target on shares of Ryder System from $165.00 to $173.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Robert W. Baird lifted their price objective on Ryder System from $186.00 to $192.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Baird R W upgraded shares of Ryder System to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays started coverage on shares of Ryder System in a research note on Monday, June 9th. They issued an "overweight" rating and a $190.00 target price for the company. Finally, Susquehanna assumed coverage on shares of Ryder System in a research note on Tuesday, July 15th. They issued a "positive" rating and a $215.00 price objective for the company. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $186.50.

Ryder System Price Performance

Shares of NYSE R traded up $1.68 during midday trading on Monday, hitting $175.45. 332,233 shares of the company's stock were exchanged, compared to its average volume of 384,652. The business's fifty day moving average price is $162.36 and its two-hundred day moving average price is $154.43. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 14.92 and a beta of 1.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27. Ryder System, Inc. has a 12-month low of $123.36 and a 12-month high of $184.76.

Ryder System (NYSE:R - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.21. Ryder System had a return on equity of 17.83% and a net margin of 3.99%. The business had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.17 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. The firm's revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 18th will be paid a $0.91 dividend. This is a boost from Ryder System's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.1%. Ryder System's dividend payout ratio is presently 30.95%.

Insider Activity at Ryder System

In related news, Director E Follin Smith sold 5,523 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $177.66, for a total transaction of $981,216.18. Following the completion of the sale, the director directly owned 33,779 shares in the company, valued at $6,001,177.14. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert E. Sanchez sold 22,063 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $182.49, for a total value of $4,026,276.87. Following the transaction, the chief executive officer directly owned 62,887 shares of the company's stock, valued at $11,476,248.63. The trade was a 25.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,582 shares of company stock worth $8,158,745 in the last ninety days. 5.20% of the stock is owned by company insiders.

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.