Seven Eight Capital LP Invests $701,000 in Ryder System, Inc. (NYSE:R)

Seven Eight Capital LP acquired a new stake in Ryder System, Inc. (NYSE:R) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,655 shares of the transportation company’s stock, valued at approximately $701,000.

A number of other hedge funds have also recently modified their holdings of R. EntryPoint Capital LLC acquired a new stake in Ryder System during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ryder System during the 2nd quarter worth $51,000. Creekmur Asset Management LLC acquired a new stake in shares of Ryder System during the 4th quarter worth about $68,000. GAMMA Investing LLC raised its holdings in Ryder System by 44.0% in the 2nd quarter. GAMMA Investing LLC now owns 589 shares of the transportation company’s stock valued at $73,000 after buying an additional 180 shares during the period. Finally, CWM LLC lifted its position in Ryder System by 62.0% in the first quarter. CWM LLC now owns 643 shares of the transportation company’s stock valued at $77,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Insider Buying and Selling at Ryder System

In related news, EVP Francisco Jr. Lopez sold 12,730 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $139.32, for a total transaction of $1,773,543.60. Following the completion of the sale, the executive vice president now owns 47,779 shares in the company, valued at $6,656,570.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stephens assumed coverage on shares of Ryder System in a research note on Monday, July 8th. They issued an “equal weight” rating on the stock. Morgan Stanley assumed coverage on Ryder System in a research report on Monday, June 24th. They issued an “overweight” rating and a $165.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Ryder System from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. StockNews.com downgraded Ryder System from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th. Finally, Vertical Research upgraded Ryder System from a “hold” rating to a “buy” rating and raised their target price for the company from $125.00 to $145.00 in a report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.86.

Ryder System Price Performance

Shares of NYSE R opened at $146.00 on Friday. The stock’s 50-day moving average is $136.70 and its two-hundred day moving average is $125.77. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 19.01 and a beta of 1.28. Ryder System, Inc. has a 1-year low of $91.31 and a 1-year high of $148.10.

Ryder System (NYSE:R) last issued its earnings results on Thursday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.87 by $0.13. Ryder System had a net margin of 4.06% and a return on equity of 17.22%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the company earned $3.61 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts forecast that Ryder System, Inc. will post 12.19 EPS for the current fiscal year.

Ryder System Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Monday, August 19th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 19th. This is a positive change from Ryder System’s previous quarterly dividend of $0.71. Ryder System’s dividend payout ratio is 42.19%.

Ryder System Company 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.