Price Capital Management Inc. Makes New Investment in Ryder System, Inc. (NYSE:R)

Price Capital Management Inc. bought a new position in Ryder System, Inc. (NYSE:R) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,800 shares of the transportation company’s stock, valued at approximately $276,000. Ryder System accounts for about 0.6% of Price Capital Management Inc.’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also recently modified their holdings of R. Pinnacle Associates Ltd. lifted its position in shares of Ryder System by 21.8% in the 2nd quarter. Pinnacle Associates Ltd. now owns 11,455 shares of the transportation company’s stock worth $668,000 after acquiring an additional 2,050 shares during the period. Pzena Investment Management LLC lifted its position in shares of Ryder System by 7.8% in the 2nd quarter. Pzena Investment Management LLC now owns 2,341,136 shares of the transportation company’s stock worth $136,488,000 after acquiring an additional 169,329 shares during the period. Swiss National Bank lifted its position in shares of Ryder System by 2.2% in the 2nd quarter. Swiss National Bank now owns 98,838 shares of the transportation company’s stock worth $5,762,000 after acquiring an additional 2,100 shares during the period. Comerica Bank raised its holdings in shares of Ryder System by 0.8% in the 2nd quarter. Comerica Bank now owns 124,048 shares of the transportation company’s stock worth $7,124,000 after buying an additional 1,011 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Ryder System in the 2nd quarter worth approximately $562,000. 87.71% of the stock is currently owned by institutional investors.

In related news, EVP Karen M. Jones sold 1,767 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $52.21, for a total transaction of $92,255.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

A number of equities analysts have recently issued reports on R shares. ValuEngine cut Ryder System from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 31st. Loop Capital cut Ryder System from a “buy” rating to a “hold” rating and dropped their target price for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. KeyCorp dropped their target price on Ryder System from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. TheStreet cut Ryder System from a “b-” rating to a “c+” rating in a report on Thursday, May 30th. Finally, SunTrust Banks dropped their target price on Ryder System to $65.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.50.

Shares of R traded up $1.17 during mid-day trading on Wednesday, reaching $48.83. The company had a trading volume of 7,938 shares, compared to its average volume of 623,417. Ryder System, Inc. has a twelve month low of $44.80 and a twelve month high of $79.95. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.59 and a quick ratio of 0.56. The company’s 50-day moving average is $53.57 and its 200-day moving average is $58.41. The company has a market capitalization of $2.54 billion, a P/E ratio of 8.43 and a beta of 1.81.

Ryder System (NYSE:R) last released its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.40. Ryder System had a return on equity of 11.46% and a net margin of 3.60%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm posted $1.42 EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, equities analysts expect that Ryder System, Inc. will post 5.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 16th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.59%. This is a boost from Ryder System’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Friday, August 16th. Ryder System’s dividend payout ratio (DPR) is currently 38.69%.

Ryder System Company Profile

Ryder System, Inc provides transportation and supply chain management solutions worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Dedicated Transportation Solutions (DTS), and Supply Chain Solutions (SCS). 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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Institutional Ownership by Quarter for Ryder System (NYSE:R)

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