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

Flynn Zito Capital Management LLC bought a new position in shares of Ryder System, Inc. (NYSE:R) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,989 shares of the transportation company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ryder System by 78.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,676 shares of the transportation company’s stock worth $1,804,000 after acquiring an additional 6,909 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Ryder System by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,159 shares of the transportation company’s stock worth $1,054,000 after buying an additional 447 shares during the last quarter. Phocas Financial Corp. lifted its position in Ryder System by 1.8% during the fourth quarter. Phocas Financial Corp. now owns 38,238 shares of the transportation company’s stock valued at $4,400,000 after purchasing an additional 666 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Ryder System during the fourth quarter valued at $1,427,000. Finally, NewEdge Wealth LLC lifted its position in Ryder System by 8.1% during the fourth quarter. NewEdge Wealth LLC now owns 159,268 shares of the transportation company’s stock valued at $18,325,000 after purchasing an additional 11,954 shares in the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on R. Vertical Research downgraded Ryder System from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Wednesday, January 10th. The Goldman Sachs Group restated a “buy” rating and issued a $122.00 price objective on shares of Ryder System in a research report on Thursday, February 15th. Stephens boosted their price objective on Ryder System from $110.00 to $113.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. StockNews.com downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Finally, Wells Fargo & Company boosted their price objective on Ryder System from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $120.00.

Ryder System Stock Down 1.5 %

Ryder System stock traded down $1.61 during mid-day trading on Thursday, reaching $107.17. 281,953 shares of the company were exchanged, compared to its average volume of 249,674. The business has a fifty day moving average of $114.75 and a 200 day moving average of $110.25. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $4.74 billion, a P/E ratio of 12.46 and a beta of 1.40. Ryder System, Inc. has a 12-month low of $76.15 and a 12-month high of $121.58.

Ryder System (NYSE:R) last issued its quarterly earnings results on Wednesday, February 14th. The transportation company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.20. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.98 billion. Ryder System had a return on equity of 19.68% and a net margin of 3.45%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.89 earnings per share. Research analysts anticipate that Ryder System, Inc. will post 11.9 earnings per share for the current fiscal year.

Ryder System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Friday, February 16th. Ryder System’s payout ratio is presently 32.53%.

Insider Transactions at Ryder System

In related news, CMO Karen M. Jones sold 7,737 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the transaction, the chief marketing officer now directly owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.10% of the company’s stock.

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.