Ferrari (NYSE:RACE) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its holdings in Ferrari (NYSE:RACE - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,919 shares of the company's stock after selling 662 shares during the quarter. Logan Capital Management Inc.'s holdings in Ferrari were worth $1,665,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in Ferrari in the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after buying an additional 50 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Ferrari in the fourth quarter worth about $45,000. Plato Investment Management Ltd acquired a new stake in Ferrari during the fourth quarter worth about $53,000. Finally, Newbridge Financial Services Group Inc. grew 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 acquiring an additional 120 shares during the period.

Ferrari Trading Up 0.8%

NYSE RACE traded up $4.20 during trading hours on Friday, reaching $498.99. The company had a trading volume of 184,101 shares, compared to its average volume of 329,877. 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 stock has a market capitalization 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 stock has a 50-day moving average of $445.89 and a 200 day moving average of $447.18. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari (NYSE:RACE - Get Free Report) last posted 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. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Ferrari's revenue was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Increases Dividend

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

Analyst Ratings Changes

RACE has been the subject of several recent research reports. StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Thursday. UBS Group lifted their price objective on shares of Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft started 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 report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and an average price target 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.