Laird Norton Wetherby Wealth Management LLC Has $2.47 Million Stock Position in Ferrari (NYSE:RACE)

Laird Norton Wetherby Wealth Management LLC decreased its position in Ferrari (NYSE:RACE - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the company's stock after selling 776 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Ferrari were worth $2,473,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Barclays PLC lifted its position in Ferrari by 6.1% during the third quarter. Barclays PLC now owns 286,564 shares of the company's stock valued at $134,719,000 after purchasing an additional 16,428 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Ferrari by 60.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,055 shares of the company's stock worth $10,707,000 after buying an additional 8,267 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Ferrari by 8.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company's stock worth $1,194,000 after acquiring an additional 194 shares in the last quarter. Paragon Advisors LLC grew its stake in Ferrari by 8.0% during the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company's stock valued at $1,965,000 after purchasing an additional 342 shares during the last quarter. Finally, Wedmont Private Capital grew its position in Ferrari by 13.0% during the 4th quarter. Wedmont Private Capital now owns 539 shares of the company's stock worth $231,000 after purchasing an additional 62 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RACE shares. 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 price objective 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. UBS Group increased their price target on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a "hold" rating for the company. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $526.25.

Ferrari Stock Performance

NYSE RACE traded up $4.20 during trading hours on Friday, hitting $498.99. The company had a trading volume of 184,101 shares, compared to its average volume of 329,877. The firm has a market cap of $120.94 billion, a P/E ratio of 54.53, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. The business has a fifty day simple moving average of $445.89 and a 200-day simple moving average of $447.18. Ferrari has a fifty-two week low of $391.54 and a fifty-two week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Ferrari (NYSE:RACE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating 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 business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.95 earnings per share. The business's quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts predict that Ferrari will post 9.22 EPS for the current year.

Ferrari Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a $3.1265 dividend. This represents a dividend yield of 0.5%. The ex-dividend date was Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is presently 5.45%.

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.