Ferrari (NYSE:RACE) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lessened its stake in Ferrari (NYSE:RACE) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 692 shares of the company’s stock after selling 80 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Ferrari were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Ferrari by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,441,408 shares of the company’s stock worth $1,312,614,000 after buying an additional 61,132 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Ferrari by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,635,501 shares of the company’s stock valued at $483,356,000 after purchasing an additional 5,310 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ferrari by 8,986.8% during the 3rd quarter. Legal & General Group Plc now owns 1,004,094 shares of the company’s stock worth $297,327,000 after buying an additional 993,044 shares during the last quarter. Alphinity Investment Management Pty Ltd grew its position in shares of Ferrari by 73.7% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 924,662 shares of the company’s stock valued at $311,740,000 after purchasing an additional 392,401 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Ferrari by 44.8% during the third quarter. Deutsche Bank AG now owns 591,378 shares of the company’s stock worth $174,776,000 after buying an additional 183,000 shares in the last quarter.

Ferrari Stock Up 0.0 %

NYSE RACE opened at $422.64 on Tuesday. Ferrari has a 12 month low of $273.39 and a 12 month high of $442.80. The company’s 50 day simple moving average is $420.92 and its 200 day simple moving average is $372.75. 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 (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. As a group, equities research analysts anticipate that Ferrari will post 8.31 EPS for the current year.

Ferrari Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Ferrari in a research note on Monday, April 22nd. Sanford C. Bernstein boosted their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, Bank of America lifted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $413.86.

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.