Mackenzie Financial Corp Has $2.64 Million Stock Position 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 increased its holdings in Ryder System, Inc. (NYSE:R - Free Report) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,385 shares of the transportation company's stock after purchasing an additional 2,039 shares during the quarter. Mackenzie Financial Corp's holdings in Ryder System were worth $2,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Leigh Baldwin & CO. LLC purchased a new position in Ryder System during the 4th quarter valued at about $40,475,000. GAMMA Investing LLC raised its position in Ryder System by 20,298.3% in the 1st quarter. GAMMA Investing LLC now owns 183,789 shares of the transportation company's stock valued at $26,431,000 after purchasing an additional 182,888 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Ryder System during the 4th quarter worth $16,317,000. Northern Trust Corp increased its position in Ryder System by 28.1% during the 4th quarter. Northern Trust Corp now owns 447,890 shares of the transportation company's stock worth $70,256,000 after purchasing an additional 98,196 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Ryder System by 2,500.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 91,393 shares of the transportation company's stock valued at $14,336,000 after buying an additional 87,879 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays assumed coverage on Ryder System in a report on Monday, June 9th. They set an "overweight" rating and a $190.00 target price on the stock. Baird R W raised Ryder System to a "strong-buy" rating in a report on Tuesday, July 1st. Wolfe Research upgraded Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price target for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Stephens lifted their price target on Ryder System from $150.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ryder System presently has a consensus rating of "Moderate Buy" and an average target price of $186.50.

Ryder System Stock Up 0.5%

Ryder System stock traded up $0.95 during trading hours on Wednesday, hitting $178.33. 102,870 shares of the stock traded hands, compared to its average volume of 382,156. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27. The firm's 50-day moving average price is $163.38 and its two-hundred day moving average price is $154.66. Ryder System, Inc. has a one year low of $125.54 and a one year high of $184.76. The company has a market cap of $7.27 billion, a PE ratio of 15.18 and a beta of 1.00.

Ryder System (NYSE:R - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.21. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.17 billion. Ryder System had a net margin of 3.99% and a return on equity of 17.83%. Ryder System's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. On average, research analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 18th will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, August 18th. This represents a $3.64 annualized dividend and a yield of 2.0%. This is an increase from Ryder System's previous quarterly dividend of $0.81. Ryder System's dividend payout ratio (DPR) is 27.55%.

Insider Buying and Selling

In other Ryder System news, CEO Robert E. Sanchez sold 22,063 shares of Ryder System stock in a transaction 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 in the company, valued at approximately $11,476,248.63. The trade was a 25.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director E Follin Smith sold 5,523 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $177.66, for a total transaction of $981,216.18. Following the sale, the director directly owned 33,779 shares in the company, valued at approximately $6,001,177.14. This represents a 14.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,582 shares of company stock worth $8,158,745 in the last ninety days. 5.20% of the stock is owned by corporate insiders.

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.