Ryder System, Inc. (NYSE:R – Get Rating) announced a quarterly dividend on Thursday, July 14th, RTT News reports. Stockholders of record on Monday, August 22nd will be given a dividend of 0.62 per share by the transportation company on Friday, September 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, August 19th. This is a positive change from Ryder System’s previous quarterly dividend of $0.58.
Ryder System has raised its dividend payment by an average of 2.5% per year over the last three years and has increased its dividend every year for the last 18 years. Ryder System has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ryder System to earn $11.16 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 22.2%.
Ryder System Trading Down 1.8 %
R stock opened at $82.35 on Thursday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 5.89 and a beta of 1.70. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 1.83. The business has a fifty day simple moving average of $75.08 and a 200-day simple moving average of $75.46. Ryder System has a 52 week low of $61.71 and a 52 week high of $93.05.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Ryder System from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 6th. StockNews.com raised shares of Ryder System from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 1st. Stifel Nicolaus upped their price target on shares of Ryder System from $80.00 to $90.00 in a research report on Monday, June 6th. Wells Fargo & Company upped their price target on shares of Ryder System from $68.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday, June 6th. Finally, Stephens upped their price objective on shares of Ryder System from $83.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.33.
Insider Buying and Selling at Ryder System
In other news, EVP Rajeev Ravindran sold 2,750 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $77.60, for a total transaction of $213,400.00. Following the transaction, the executive vice president now owns 12,661 shares of the company’s stock, valued at $982,493.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Ryder System
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Ryder System by 7.9% during the first quarter. Vanguard Group Inc. now owns 5,735,585 shares of the transportation company’s stock worth $455,004,000 after acquiring an additional 421,132 shares during the period. State Street Corp raised its stake in Ryder System by 5.9% during the first quarter. State Street Corp now owns 1,825,239 shares of the transportation company’s stock worth $144,796,000 after acquiring an additional 101,962 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Ryder System by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 386,182 shares of the transportation company’s stock worth $30,636,000 after acquiring an additional 16,516 shares during the period. First Trust Advisors LP raised its stake in Ryder System by 12.4% during the first quarter. First Trust Advisors LP now owns 366,266 shares of the transportation company’s stock worth $29,056,000 after acquiring an additional 40,407 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Ryder System by 13.6% during the first quarter. JPMorgan Chase & Co. now owns 193,131 shares of the transportation company’s stock worth $15,322,000 after acquiring an additional 23,111 shares during the period. Institutional investors own 87.24% of the company’s stock.
Ryder System Company Profile
Ryder System, Inc operates as a logistics and transportation company worldwide. The company 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, as well as maintenance services, supplies, and related equipment for operation of the vehicles; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers, as well as fleet support services.
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