Lansing Management LP Cuts Holdings in Ferrari (NYSE:RACE)

Lansing Management LP reduced its stake in shares of Ferrari (NYSE:RACE - Free Report) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,048 shares of the company's stock after selling 3,490 shares during the quarter. Ferrari accounts for approximately 23.2% of Lansing Management LP's portfolio, making the stock its largest holding. Lansing Management LP's holdings in Ferrari were worth $26,360,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Barclays PLC boosted its holdings in shares of Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company's stock worth $134,719,000 after purchasing an additional 16,428 shares during the last quarter. Morse Asset Management Inc lifted its stake in shares of Ferrari by 1.6% during the third quarter. Morse Asset Management Inc now owns 5,239 shares of the company's stock worth $2,462,000 after purchasing an additional 83 shares in the last quarter. Sculati Wealth Management LLC lifted its stake in shares of Ferrari by 2.0% during the third quarter. Sculati Wealth Management LLC now owns 6,029 shares of the company's stock worth $2,628,000 after purchasing an additional 120 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Ferrari during the third quarter worth about $417,000. Finally, Franklin Resources Inc. lifted its stake in shares of Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after purchasing an additional 8,267 shares in the last quarter.

Analyst Ratings Changes

RACE has been the topic of a number of analyst reports. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. UBS Group decreased their target price on Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Finally, StockNews.com downgraded Ferrari from a "buy" rating to a "hold" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $481.60.

Ferrari Stock Down 0.3 %

NYSE RACE traded down $1.59 during trading on Wednesday, reaching $461.15. 361,785 shares of the company's stock were exchanged, compared to its average volume of 329,959. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The firm has a market capitalization of $111.77 billion, a PE ratio of 50.40, a P/E/G ratio of 4.43 and a beta of 1.03. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The company's fifty day simple moving average is $443.61 and its 200-day simple moving average is $447.14.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

Ferrari Company 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.