Kolinsky Wealth Management LLC Has $671,000 Holdings in Ferrari (NYSE:RACE)

Kolinsky Wealth Management LLC trimmed its position in shares of Ferrari (NYSE:RACE) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580 shares of the company’s stock after selling 183 shares during the period. Kolinsky Wealth Management LLC’s holdings in Ferrari were worth $671,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Ferrari by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,693,201 shares of the company’s stock worth $2,002,581,000 after acquiring an additional 45,754 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 594,547 shares during the period. Norges Bank bought a new stake in shares of Ferrari in the 4th quarter valued at about $697,226,000. Bank of New York Mellon Corp grew its holdings in shares of Ferrari by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company’s stock valued at $684,888,000 after buying an additional 38,356 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Ferrari by 62.1% during the fourth quarter. Marshall Wace LLP now owns 1,358,467 shares of the company’s stock worth $579,561,000 after purchasing an additional 520,337 shares during the period.

Ferrari Stock Performance

RACE stock opened at $498.59 on Wednesday. The firm has a market cap of $120.85 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 4.43 and a beta of 1.13. 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 stock has a 50-day moving average price of $449.11 and a 200-day moving average price of $447.33. Ferrari has a 1-year low of $391.54 and a 1-year high of $509.13.

Ferrari (NYSE:RACE) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.06. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. As a group, equities research analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a dividend of $3.1265 per share. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date was Wednesday, April 23rd. Ferrari’s dividend payout ratio is 5.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RACE. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, March 28th. StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. UBS Group boosted their price target on Ferrari from $520.00 to $560.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $526.25.

About Ferrari

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.