Flossbach Von Storch AG Sells 8,865 Shares of Ferrari (NYSE:RACE)

Flossbach Von Storch AG lessened its stake in shares of Ferrari (NYSE:RACE) by 59.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,126 shares of the company’s stock after selling 8,865 shares during the period. Flossbach Von Storch AG’s holdings in Ferrari were worth $2,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RACE. Jamison Private Wealth Management Inc. acquired a new stake in shares of Ferrari in the 4th quarter worth about $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Ferrari in the 2nd quarter worth about $33,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Ferrari by 320.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Ferrari by 37.0% in the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Ferrari in the 4th quarter worth about $38,000.

Ferrari Price Performance

Shares of RACE stock traded down $1.37 during trading hours on Thursday, hitting $414.63. 34,386 shares of the company were exchanged, compared to its average volume of 306,430. The firm has a fifty day simple moving average of $416.10 and a 200 day simple moving average of $365.86. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. Ferrari has a 52-week low of $272.70 and a 52-week high of $442.80.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. On average, research analysts expect that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a $2.443 dividend. The ex-dividend date is Monday, April 22nd. This represents a yield of 0.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Bank of America increased their price objective on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Sanford C. Bernstein increased their price objective on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $393.86.

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.