Ryder System, Inc. (NYSE:R) Increases Dividend to $0.91 Per Share

Ryder System, Inc. (NYSE:R - Get Free Report) declared a quarterly dividend on Friday, July 11th, Wall Street Journal reports. Stockholders of record on Monday, August 18th will be given a dividend of 0.91 per share by the transportation company on Friday, September 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, August 18th. This is a 12.3% increase from Ryder System's previous quarterly dividend of $0.81.

Ryder System has a dividend payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Ryder System to earn $16.41 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 19.7%.

Ryder System Stock Down 0.0%

NYSE:R traded down $0.01 during trading hours on Friday, reaching $176.00. The company's stock had a trading volume of 268,815 shares, compared to its average volume of 325,900. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 15.36 and a beta of 0.97. Ryder System has a one year low of $120.84 and a one year high of $177.40. The business's 50-day moving average is $154.66 and its 200-day moving average is $152.64. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.73 and a quick ratio of 0.73.

Ryder System (NYSE:R - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $3.13 billion during the quarter, compared to analysts' expectations of $3.17 billion. Ryder System had a net margin of 3.96% and a return on equity of 17.64%. Ryder System's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.14 earnings per share. Equities research analysts predict that Ryder System will post 13.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on R shares. Barclays started coverage on shares of Ryder System in a research report on Monday, June 9th. They set an "overweight" rating and a $190.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Ryder System from $165.00 to $173.00 and gave the company a "neutral" rating in a research note on Tuesday. Wall Street Zen cut shares of Ryder System from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Wolfe Research raised shares of Ryder System from a "peer perform" rating to an "outperform" rating and set a $159.00 price objective on the stock in a research note on Tuesday, July 1st. Finally, Baird R W raised shares of Ryder System to a "strong-buy" rating in a research note on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ryder System presently has an average rating of "Moderate Buy" and a consensus target price of $173.50.

Insider Activity

In other news, Director E Follin Smith sold 1,243 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $144.38, for a total value of $179,464.34. Following the completion of the transaction, the director owned 39,802 shares in the company, valued at $5,746,612.76. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Sanchez sold 18,496 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $155.73, for a total value of $2,880,382.08. Following the completion of the transaction, the chief executive officer owned 40,824 shares of the company's stock, valued at $6,357,521.52. The trade was a 31.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Ryder System

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in Ryder System by 61.2% during the first quarter. Geneos Wealth Management Inc. now owns 287 shares of the transportation company's stock worth $41,000 after purchasing an additional 109 shares during the period. Focus Partners Wealth boosted its holdings in shares of Ryder System by 7.9% during the first quarter. Focus Partners Wealth now owns 1,851 shares of the transportation company's stock worth $266,000 after acquiring an additional 135 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Ryder System by 52.8% during the first quarter. Royal Bank of Canada now owns 15,765 shares of the transportation company's stock worth $2,267,000 after acquiring an additional 5,448 shares during the period. Institutional investors own 87.47% of the company's stock.

About Ryder System

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.

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