New York State Teachers Retirement System Reduces Stock Position in Ryder System, Inc. (NYSE:R)

New York State Teachers Retirement System trimmed its position in Ryder System, Inc. (NYSE:R) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,732 shares of the transportation company’s stock after selling 2,663 shares during the period. New York State Teachers Retirement System owned about 0.12% of Ryder System worth $7,008,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. US Bancorp DE grew its position in shares of Ryder System by 2.0% in the fourth quarter. US Bancorp DE now owns 5,836 shares of the transportation company’s stock valued at $915,000 after purchasing an additional 117 shares during the period. Smartleaf Asset Management LLC boosted its stake in Ryder System by 2,942.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 852 shares of the transportation company’s stock worth $133,000 after buying an additional 824 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ryder System in the 4th quarter valued at about $26,000. M&T Bank Corp increased its stake in shares of Ryder System by 10.8% during the 4th quarter. M&T Bank Corp now owns 2,200 shares of the transportation company’s stock valued at $346,000 after acquiring an additional 215 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Ryder System during the 4th quarter worth about $5,142,000. 87.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ryder System

In other Ryder System news, Director E Follin Smith sold 1,243 shares of the 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 sale, the director owned 39,802 shares of the company’s stock, valued at $5,746,612.76. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Sanchez sold 18,496 shares of Ryder System 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 sale, the chief executive officer owned 40,824 shares in the company, valued at $6,357,521.52. This represents a 31.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Ryder System Stock Performance

Shares of R stock opened at $171.68 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.21. The company has a market cap of $7.10 billion, a PE ratio of 14.97 and a beta of 0.97. The company’s fifty day simple moving average is $151.99 and its 200-day simple moving average is $152.18. Ryder System, Inc. has a 52 week low of $117.17 and a 52 week high of $172.67.

Ryder System (NYSE:R) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.17 billion. Ryder System had a return on equity of 17.64% and a net margin of 3.96%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 EPS. As a group, equities research analysts anticipate that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 19th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, May 19th. Ryder System’s dividend payout ratio (DPR) is presently 28.25%.

Wall Street Analysts Forecast Growth

R has been the subject of a number of recent analyst reports. Wolfe Research upgraded 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. Barclays assumed coverage on shares of Ryder System in a report on Monday, June 9th. They issued an “overweight” rating and a $190.00 price target on the stock. Robert W. Baird started coverage on Ryder System in a report on Tuesday, July 1st. They set an “outperform” rating and a $186.00 price objective for the company. Wall Street Zen cut Ryder System from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Stephens dropped their price target on Ryder System from $168.00 to $150.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.17.

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.