Ferrari (NYSE:RACE) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its holdings in Ferrari (NYSE:RACE - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,256 shares of the company's stock after selling 1,875 shares during the period. Pathstone Holdings LLC's holdings in Ferrari were worth $13,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hanson & Doremus Investment Management acquired a new stake in shares of Ferrari during the 4th quarter valued at $26,000. Armstrong Advisory Group Inc. raised its position in shares of Ferrari by 100.0% in the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Ferrari in the fourth quarter worth $45,000. Plato Investment Management Ltd acquired a new position in Ferrari in the 4th quarter valued at $53,000. Finally, Newbridge Financial Services Group Inc. lifted its position in Ferrari by 705.9% during the 4th 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 last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RACE shares. UBS Group upped their price target on Ferrari from $520.00 to $560.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating on the stock. Finally, Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $526.25.

Ferrari Stock Performance

Shares of RACE traded down $1.71 during trading hours on Monday, hitting $497.03. The company's stock had a trading volume of 185,677 shares, compared to its average volume of 330,141. The business has a 50 day simple moving average of $447.01 and a two-hundred day simple moving average of $446.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The company has a market cap of $120.47 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE - Get Free Report) last posted its quarterly earnings results 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. 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 the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.95 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts expect that Ferrari will post 9.22 earnings per share for the current fiscal year.

Ferrari Increases Dividend

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

Ferrari 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.