Mercer Global Advisors Inc. ADV Cuts Holdings in Ferrari (NYSE:RACE)

Mercer Global Advisors Inc. ADV cut its stake in shares of Ferrari (NYSE:RACE - Free Report) by 72.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,467 shares of the company's stock after selling 3,774 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Ferrari were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RACE. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari in the fourth quarter worth approximately $26,000. Armstrong Advisory Group Inc. lifted its position in shares of Ferrari by 100.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock worth $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Ferrari in the 4th quarter worth approximately $45,000. Plato Investment Management Ltd bought a new stake in shares of Ferrari in the 4th quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of 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 period.

Ferrari Stock Up 0.7%

Shares of NYSE:RACE traded up $3.56 during trading on Wednesday, reaching $494.44. 309,682 shares of the stock were exchanged, compared to its average volume of 329,966. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13. The stock has a fifty day moving average of $443.84 and a two-hundred day moving average of $446.82. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The firm has a market cap of $119.84 billion, a price-to-earnings ratio of 54.04, a price-to-earnings-growth 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. The firm had revenue of $1.94 billion for 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%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. Research analysts anticipate that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. UBS Group boosted their price objective on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. 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 report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.