Fintel reports that on July 31, 2023, Baird upgraded their outlook for Ryder System (NYSE:R) from Neutral to Outperform.
Analyst Price Forecast Suggests 0.19% Upside
As of July 6, 2023, the average one-year price target for Ryder System is 101.32. The forecasts range from a low of 80.80 to a high of $120.75. The average price target represents an increase of 0.19% from its latest reported closing price of 101.13.
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The projected annual revenue for Ryder System is 12,173MM, an increase of 1.79%. The projected annual non-GAAP EPS is 11.09.
Ryder System Declares $0.62 Dividend
On May 5, 2023 the company declared a regular quarterly dividend of $0.62 per share ($2.48 annualized). Shareholders of record as of May 22, 2023 received the payment on June 16, 2023. Previously, the company paid $0.62 per share.
At the current share price of $101.13 / share, the stock’s dividend yield is 2.45%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.76%, the lowest has been 2.54%, and the highest has been 8.93%. The standard deviation of yields is 1.23 (n=235).
The current dividend yield is 1.06 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.23. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 802 funds or institutions reporting positions in Ryder System. This is an increase of 15 owner(s) or 1.91% in the last quarter. Average portfolio weight of all funds dedicated to R is 0.17%, a decrease of 1.41%. Total shares owned by institutions increased in the last three months by 0.09% to 44,550K shares. The put/call ratio of R is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
HG Vora Capital Management holds 5,050K shares representing 10.86% ownership of the company. No change in the last quarter.
Earnest Partners holds 1,745K shares representing 3.75% ownership of the company. In it’s prior filing, the firm reported owning 1,706K shares, representing an increase of 2.22%. The firm increased its portfolio allocation in R by 3.05% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 1,550K shares representing 3.33% ownership of the company. In it’s prior filing, the firm reported owning 1,552K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in R by 2.10% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,360K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 1,455K shares, representing a decrease of 6.98%. The firm decreased its portfolio allocation in R by 7.83% over the last quarter.
Lsv Asset Management holds 1,359K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 1,362K shares, representing a decrease of 0.26%. The firm increased its portfolio allocation in R by 8.32% over the last quarter.
Ryder System Background Information
(This description is provided by the company.)
Ryder System, Inc. is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages more than 250,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 55 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce.
This article originally appeared on Fintel
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