Atlas Capital Advisors Inc. Decreases Stock Position in Ferrari (NYSE:RACE)

Atlas Capital Advisors Inc. trimmed its position in shares of Ferrari (NYSE:RACE) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 758 shares of the company’s stock after selling 26 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Ferrari were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC lifted its stake in shares of Ferrari by 3.6% in the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company’s stock worth $266,000 after buying an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares during the last quarter. PDS Planning Inc grew its position in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company’s stock valued at $250,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the last quarter. Finally, EWA LLC lifted its position in Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company’s stock worth $228,000 after buying an additional 32 shares in the last quarter.

Ferrari Trading Down 3.9 %

RACE opened at $414.50 on Friday. Ferrari has a 52 week low of $399.27 and a 52 week high of $509.13. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $455.45 and a 200-day simple moving average of $451.05. The firm has a market cap of $100.47 billion, a P/E ratio of 45.30, a P/E/G ratio of 4.43 and a beta of 0.94.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s payout ratio is currently 5.63%.

Wall Street Analysts Forecast Growth

RACE has been the subject of a number of recent research reports. Kepler Capital Markets raised Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday, March 28th. UBS Group decreased their price objective on Ferrari from $584.00 to $520.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research note on Thursday, February 6th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $490.29.

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.