Captrust Financial Advisors Lowers Holdings in Ferrari (NYSE:RACE)

Captrust Financial Advisors lowered its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,735 shares of the company's stock after selling 1,557 shares during the quarter. Captrust Financial Advisors' holdings in Ferrari were worth $3,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management purchased a new stake in Ferrari during the 4th quarter valued at approximately $26,000. Armstrong Advisory Group Inc. grew its stake in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after acquiring an additional 50 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Ferrari in the 4th quarter valued at $45,000. Plato Investment Management Ltd purchased a new stake in Ferrari in the 4th quarter worth $53,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after purchasing an additional 120 shares in the last quarter.

Ferrari Stock Up 1.6 %

Shares of RACE opened at $488.26 on Friday. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average of $442.38 and a 200 day moving average of $446.77. The company has a market cap of $118.34 billion, a PE ratio of 53.36, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $1.95 EPS. On average, sell-side analysts expect that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $3.1265 per share. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari's dividend payout ratio is currently 5.63%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. UBS Group lifted their price objective on Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, StockNews.com upgraded shares of Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $526.25.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.

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