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

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Ferrari (NYSE:RACE) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jamison Private Wealth Management Inc. acquired a new position in Ferrari in the fourth quarter worth about $27,000. Householder Group Estate & Retirement Specialist LLC increased 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 valued at $35,000 after acquiring an additional 80 shares during the last quarter. Blue Trust Inc. raised its position in shares of Ferrari by 37.0% during the 4th quarter. Blue Trust Inc. now owns 111 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. Headlands Technologies LLC bought a new position in Ferrari during the fourth quarter worth $43,000. Finally, Allworth Financial LP boosted its holdings in Ferrari by 327.5% in the third quarter. Allworth Financial LP now owns 218 shares of the company’s stock worth $64,000 after purchasing an additional 167 shares during the period.

Ferrari Stock Performance

RACE stock opened at $422.64 on Tuesday. The company’s 50 day simple moving average is $420.92 and its 200-day simple moving average is $372.75. Ferrari has a 52-week low of $273.39 and a 52-week high of $442.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91.

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

Ferrari Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on RACE shares. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. UBS Group lifted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI upped their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Citigroup cut Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. Finally, Sanford C. Bernstein increased their price objective on Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $413.86.

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.