Snowden Capital Advisors LLC Has $2.09 Million Stake in Ferrari (NYSE:RACE)

Snowden Capital Advisors LLC decreased its stake in shares of Ferrari (NYSE:RACE - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,904 shares of the company's stock after selling 1,628 shares during the period. Snowden Capital Advisors LLC's holdings in Ferrari were worth $2,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RACE. Norges Bank bought a new position in Ferrari in the 4th quarter worth approximately $697,226,000. Price T Rowe Associates Inc. MD raised its holdings in Ferrari by 49.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company's stock worth $763,125,000 after purchasing an additional 594,547 shares during the last quarter. Barclays PLC boosted its stake in shares of Ferrari by 198.0% in the 4th quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after purchasing an additional 567,407 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after purchasing an additional 520,337 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Ferrari by 380.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock worth $107,770,000 after buying an additional 192,694 shares during the last quarter.

Ferrari Stock Down 0.6%

Shares of NYSE:RACE traded down $2.85 during trading on Wednesday, hitting $496.18. 302,857 shares of the company were exchanged, compared to its average volume of 330,491. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. 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 firm has a fifty day moving average price of $449.11 and a two-hundred day moving average price of $447.33. The stock has a market cap of $120.26 billion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a net margin of 22.81% and a return on equity of 46.69%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business earned $1.95 EPS. Ferrari's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were issued a dividend of $3.1265 per share. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is presently 5.45%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. UBS Group increased their target price on shares of Ferrari from $520.00 to $560.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $526.25.

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.