Captrust Financial Advisors Sells 1,557 Shares of Ferrari (NYSE:RACE)

Captrust Financial Advisors lessened its stake in shares of Ferrari (NYSE:RACE) by 16.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,735 shares of the company’s stock after selling 1,557 shares during the period. Captrust Financial Advisors’ holdings in Ferrari were worth $3,288,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Ferrari during the 4th quarter valued at $697,226,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Ferrari by 49.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,796,264 shares of the company’s stock valued at $763,125,000 after acquiring an additional 594,547 shares in the last quarter. Barclays PLC lifted its stake in Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company’s stock worth $362,802,000 after acquiring an additional 567,407 shares during the period. Marshall Wace LLP grew its holdings in Ferrari by 62.1% during the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after acquiring an additional 520,337 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Ferrari by 380.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company’s stock valued at $107,770,000 after purchasing an additional 192,694 shares during the period.

Analyst Upgrades and Downgrades

RACE has been the subject of several research reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Wednesday. 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. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a report 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. Finally, UBS Group lifted their target price on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $526.25.

Ferrari Stock Performance

Shares of RACE opened at $488.26 on Friday. 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 firm has a market cap of $118.34 billion, a PE ratio of 53.36, a P/E/G ratio of 4.43 and a beta of 1.13. Ferrari has a 12 month low of $391.54 and a 12 month high of $509.13. The stock has a fifty day moving average price of $442.38 and a 200-day moving average price of $446.77.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business posted $1.95 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts predict 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. Shareholders of record on Wednesday, April 23rd were given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s payout ratio is currently 5.63%.

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.