Ryder System, Inc. (NYSE:R) Shares Sold by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. reduced its stake in Ryder System, Inc. by 5.2%, owning 44,107 shares, which is valued at approximately $6.34 million.
• Ryder System reported earnings per share (EPS) of $3.32, exceeding analyst estimates of $3.11, with a revenue of $3.19 billion for the quarter.
• The company announced a quarterly dividend increase from $0.81 to $0.91, representing a 2.1% yield, to be paid on September 19th.

Phocas Financial Corp. lowered its holdings in shares of Ryder System, Inc. (NYSE:R - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,107 shares of the transportation company's stock after selling 2,438 shares during the quarter. Phocas Financial Corp. owned approximately 0.11% of Ryder System worth $6,343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invst LLC lifted its holdings in shares of Ryder System by 0.7% in the 4th quarter. Invst LLC now owns 8,315 shares of the transportation company's stock valued at $1,304,000 after buying an additional 61 shares during the period. Deutsche Bank AG grew its holdings in shares of Ryder System by 1.6% during the fourth quarter. Deutsche Bank AG now owns 4,136 shares of the transportation company's stock valued at $649,000 after purchasing an additional 65 shares during the last quarter. Baird Financial Group Inc. grew its holdings in Ryder System by 0.9% in the 4th quarter. Baird Financial Group Inc. now owns 9,826 shares of the transportation company's stock worth $1,541,000 after buying an additional 90 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Ryder System by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 6,534 shares of the transportation company's stock worth $940,000 after buying an additional 90 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Ryder System by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company's stock worth $1,697,000 after buying an additional 100 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Cristina Gallo-Aquino sold 1,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $180.87, for a total transaction of $180,870.00. Following the completion of the sale, the chief financial officer owned 26,561 shares of the company's stock, valued at $4,804,088.07. The trade was a 3.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Follin Smith sold 5,523 shares of the stock in a transaction dated 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 transaction, the director directly owned 33,779 shares of the company's stock, valued at approximately $6,001,177.14. The trade was 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 valued at $8,158,745 over the last ninety days. 5.20% of the stock is owned by insiders.

Ryder System Stock Performance

R traded down $2.43 during trading on Thursday, reaching $176.20. 32,951 shares of the company were exchanged, compared to its average volume of 380,863. The firm has a 50 day moving average of $163.95 and a 200 day moving average of $154.82. Ryder System, Inc. has a 52 week low of $125.54 and a 52 week high of $184.76. The stock has a market cap of $7.19 billion, a P/E ratio of 14.98 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 (NYSE:R - Get Free Report) last released its earnings results on Thursday, July 24th. The transportation company reported $3.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $0.21. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.17 billion. Ryder System had a return on equity of 17.83% and a net margin of 3.99%. The company's revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 EPS. On average, sell-side analysts forecast that Ryder System, Inc. will post 13.68 EPS for the current fiscal year.

Ryder System Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wolfe Research raised shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 target price for the company in a report on Tuesday, July 1st. Susquehanna assumed coverage on shares of Ryder System in a research note on Tuesday, July 15th. They set a "positive" rating and a $215.00 target price for the company. Morgan Stanley boosted their target price on shares of Ryder System from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Barclays assumed coverage on shares of Ryder System in a report on Monday, June 9th. They set an "overweight" rating and a $190.00 price objective for the company. Finally, Robert W. Baird increased their price target on shares of Ryder System from $186.00 to $192.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ryder System has a consensus rating of "Moderate Buy" and an average price target of $186.50.

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.