Ryder System, Inc. (NYSE:R) Stock Holdings Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Ryder System, Inc. (NYSE:R - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 47,847 shares of the transportation company's stock after selling 3,331 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Ryder System worth $7,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in shares of Ryder System in the fourth quarter worth about $314,075,000. Jacobs Levy Equity Management Inc. increased its holdings in Ryder System by 212.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 425,614 shares of the transportation company's stock worth $62,055,000 after purchasing an additional 289,388 shares during the last quarter. FMR LLC raised its position in shares of Ryder System by 56.2% in the 3rd quarter. FMR LLC now owns 781,519 shares of the transportation company's stock valued at $113,945,000 after purchasing an additional 281,052 shares in the last quarter. Pacific Heights Asset Management LLC grew its position in shares of Ryder System by 125.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 180,000 shares of the transportation company's stock worth $28,235,000 after buying an additional 100,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Ryder System in the fourth quarter worth $12,242,000. Hedge funds and other institutional investors own 87.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on R shares. JPMorgan Chase & Co. reduced their price objective on shares of Ryder System from $176.00 to $174.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of Ryder System from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group boosted their price objective on Ryder System from $160.00 to $183.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $157.00.

Remove Ads

Ryder System Stock Performance

Shares of NYSE:R traded up $2.36 during trading on Wednesday, reaching $148.62. 96,720 shares of the company's stock traded hands, compared to its average volume of 371,766. The stock has a market capitalization of $6.20 billion, a P/E ratio of 13.40 and a beta of 1.23. Ryder System, Inc. has a 12 month low of $106.88 and a 12 month high of $171.78. The company has a 50 day moving average of $154.72 and a 200-day moving average of $155.37. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.75 and a quick ratio of 0.75.

Ryder System (NYSE:R - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The transportation company reported $3.45 earnings per share for the quarter, topping analysts' consensus estimates of $3.39 by $0.06. Ryder System had a return on equity of 17.23% and a net margin of 3.87%. On average, equities analysts expect that Ryder System, Inc. will post 13.68 EPS for the current year.

Ryder System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, February 18th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.18%. Ryder System's dividend payout ratio is currently 29.22%.

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.