Millennium Management LLC Has $34.12 Million Stake in Ryder System, Inc. (NYSE:R)

Millennium Management LLC lifted its position in shares of Ryder System, Inc. (NYSE:R) by 42.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,487 shares of the transportation company’s stock after acquiring an additional 65,071 shares during the quarter. Millennium Management LLC owned approximately 0.51% of Ryder System worth $34,115,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Keystone Financial Group Inc. bought a new stake in shares of Ryder System in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Ryder System in the fourth quarter worth $26,000. R Squared Ltd bought a new stake in shares of Ryder System in the fourth quarter worth $45,000. Principal Securities Inc. grew its stake in shares of Ryder System by 36.5% in the fourth quarter. Principal Securities Inc. now owns 344 shares of the transportation company’s stock worth $54,000 after purchasing an additional 92 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Ryder System by 36.6% in the fourth quarter. UMB Bank n.a. now owns 362 shares of the transportation company’s stock worth $57,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 87.47% of the company’s stock.

Insider Buying and Selling

In related news, Director E Follin Smith sold 1,243 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $144.38, for a total value of $179,464.34. Following the sale, the director now owns 39,802 shares in the company, valued at $5,746,612.76. This represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by company insiders.

Ryder System Price Performance

Shares of NYSE R opened at $158.46 on Monday. The firm’s 50-day moving average price is $142.10 and its 200-day moving average price is $154.32. Ryder System, Inc. has a 1-year low of $116.58 and a 1-year high of $171.78. The firm has a market capitalization of $6.55 billion, a P/E ratio of 14.29 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) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. Ryder System had a net margin of 3.87% and a return on equity of 17.23%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Ryder System, Inc. will post 13.68 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 19th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.04%. Ryder System’s dividend payout ratio is presently 28.25%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut 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. StockNews.com cut shares of Ryder System from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Stephens cut their price target on shares of Ryder System from $168.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ryder System currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.50.

Ryder System 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.