Mackenzie Financial Corp Sells 64,914 Shares of Ryder System, Inc. (NYSE:R)

Mackenzie Financial Corp cut its stake in shares of Ryder System, Inc. (NYSE:R - Free Report) by 79.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,346 shares of the transportation company's stock after selling 64,914 shares during the quarter. Mackenzie Financial Corp's holdings in Ryder System were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of R. Keystone Financial Group Inc. bought a new stake in shares of Ryder System in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Ryder System during the 4th quarter valued at $26,000. R Squared Ltd purchased a new position in Ryder System during the 4th quarter valued at $45,000. Principal Securities Inc. raised its holdings in Ryder System by 36.5% in the 4th quarter. Principal Securities Inc. now owns 344 shares of the transportation company's stock worth $54,000 after purchasing an additional 92 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Ryder System in the 4th quarter worth about $59,000. 87.47% of the stock is currently owned by institutional investors.

Ryder System Stock Up 2.9%

R traded up $4.25 during midday trading on Tuesday, reaching $150.51. The company's stock had a trading volume of 313,848 shares, compared to its average volume of 324,878. Ryder System, Inc. has a 1 year low of $116.58 and a 1 year high of $171.78. The stock's 50-day moving average is $144.19 and its 200-day moving average is $153.61. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.57 and a beta of 0.94. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.14.

Ryder System (NYSE:R - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts expect that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Monday, May 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.15%. Ryder System's payout ratio is presently 28.25%.

Insider Transactions at Ryder System

In related news, CEO Robert E. Sanchez sold 18,496 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 now owns 40,824 shares of the company's stock, valued at $6,357,521.52. This trade represents a 31.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director E Follin Smith sold 1,243 shares of the company'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 completion of the transaction, the director now directly owns 39,802 shares in the company, valued at $5,746,612.76. This trade 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on R shares. JPMorgan Chase & Co. reduced their price target on shares of Ryder System from $174.00 to $165.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Stephens reduced their target price on Ryder System from $168.00 to $150.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Wall Street Zen cut Ryder System from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $160.50.

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.