Two Sigma Advisers LP Sells 37,600 Shares of Ferrari (NYSE:RACE)

Two Sigma Advisers LP decreased its position in Ferrari (NYSE:RACE - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,400 shares of the company's stock after selling 37,600 shares during the period. Two Sigma Advisers LP owned 0.06% of Ferrari worth $61,772,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RACE. Hanson & Doremus Investment Management bought a new position in Ferrari in the fourth quarter valued at about $26,000. Kestra Investment Management LLC bought a new position in Ferrari during the fourth quarter worth about $45,000. Plato Investment Management Ltd bought a new position in Ferrari during the fourth quarter worth about $53,000. Newbridge Financial Services Group Inc. boosted its holdings in Ferrari by 705.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company's stock worth $58,000 after buying an additional 120 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in Ferrari by 53.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 144 shares of the company's stock worth $61,000 after buying an additional 50 shares during the last quarter.

Ferrari Stock Down 0.3%

RACE stock opened at $497.03 on Tuesday. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The business's 50 day simple moving average is $447.95 and its 200 day simple moving average is $446.98. 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 market capitalization of $120.47 billion, a PE ratio of 54.32, a PEG ratio of 4.43 and a beta of 1.13.

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

Ferrari Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd were given a $3.1265 dividend. This is an increase 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 presently 5.45%.

Wall Street Analysts Forecast Growth

RACE has been the topic of a number of recent analyst reports. StockNews.com cut Ferrari from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. lowered their target price on Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $526.25.

About Ferrari

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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