Courier Capital LLC lifted its stake in Ryder System, Inc. (NYSE:R – Free Report) by 96.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,454 shares of the transportation company’s stock after purchasing an additional 12,995 shares during the period. Ryder System makes up 1.1% of Courier Capital LLC’s investment portfolio, making the stock its 25th largest holding. Courier Capital LLC’s holdings in Ryder System were worth $6,028,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Ryder System during the second quarter worth about $1,060,749,000. Bank of America Corp DE acquired a new stake in shares of Ryder System during the 2nd quarter valued at approximately $207,689,000. Bank of New York Mellon Corp acquired a new stake in shares of Ryder System during the 2nd quarter valued at approximately $136,320,000. First Trust Advisors LP lifted its position in shares of Ryder System by 81.5% during the 1st quarter. First Trust Advisors LP now owns 1,010,320 shares of the transportation company’s stock valued at $206,822,000 after acquiring an additional 453,697 shares during the period. Finally, NewEdge Wealth LLC purchased a new stake in shares of Ryder System during the 2nd quarter worth approximately $74,531,000. Institutional investors and hedge funds own 87.47% of the company’s stock.
Ryder System Price Performance
Shares of R traded up $2.13 during mid-day trading on Tuesday, reaching $239.64. 190,373 shares of the company’s stock were exchanged, compared to its average volume of 359,683. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.91. The company has a 50-day simple moving average of $245.73 and a two-hundred day simple moving average of $246.89. Ryder System, Inc. has a 52-week low of $157.67 and a 52-week high of $284.25. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 19.50 and a beta of 1.05.
Ryder System Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 23rd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 23rd. Ryder System’s payout ratio is 32.87%.
Analysts Set New Price Targets
R has been the subject of several research reports. Wall Street Zen raised Ryder System from a “buy” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Ryder System in a report on Monday, August 24th. Susquehanna dropped their price target on Ryder System from $310.00 to $280.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Robert W. Baird restated a “neutral” rating and issued a $245.00 price target (down from $290.00) on shares of Ryder System in a research report on Tuesday, September 29th. Finally, Zacks Research downgraded Ryder System from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.
Get Our Latest Stock Analysis on R
Ryder System Profile
Ryder System, Inc is a transportation and logistics company that provides fleet management, supply chain, and dedicated transportation solutions. Its services include commercial vehicle leasing and rental, fleet maintenance, transportation management, warehousing, distribution, and delivery services.
The company serves businesses across industries through operations in the United States, Canada, and Mexico. Ryder also supports e-commerce and retail customers with last-mile delivery, fulfillment, and related logistics services, and sells used commercial vehicles through its network of vehicle sales centers and online channels.
Founded in 1933 by James Ryder, the company is headquartered in Miami, Florida.
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