Nissay Asset Management Corp Japan ADV lessened its stake in Ferrari (NYSE:RACE - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,794 shares of the company's stock after selling 2,101 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Ferrari were worth $3,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the stock. Barclays PLC increased its position in shares of Ferrari by 6.1% during the 3rd 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. Wedmont Private Capital increased its holdings in Ferrari by 13.0% in the 4th quarter. Wedmont Private Capital now owns 539 shares of the company's stock worth $231,000 after acquiring an additional 62 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in 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 acquiring an additional 50 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in Ferrari by 11.2% in the 4th quarter. Outlook Wealth Advisors LLC now owns 892 shares of the company's stock worth $379,000 after acquiring an additional 90 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Ferrari in the 4th quarter worth approximately $356,000.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays upgraded Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. StockNews.com downgraded Ferrari from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $526.25.
Check Out Our Latest Report on Ferrari
Ferrari Stock Up 0.2%
RACE traded up $0.96 on Tuesday, hitting $498.59. The company had a trading volume of 195,959 shares, compared to its average volume of 330,183. The stock has a fifty day moving average price of $447.95 and a 200-day moving average price of $446.98. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The stock has a market capitalization of $120.85 billion, a price-to-earnings ratio of 54.49, a P/E/G ratio of 4.43 and a beta of 1.13.
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, beating 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. Analysts predict that Ferrari will post 9.22 EPS for the current fiscal year.
Ferrari Increases Dividend
The company also recently announced 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 an increase from Ferrari's previous annual dividend of $2.44. The ex-dividend date was Wednesday, April 23rd. This represents a dividend yield of 0.5%. Ferrari's payout ratio is 5.45%.
Ferrari Profile
(
Free Report)
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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