Logan Capital Management Inc. Sells 662 Shares of Ferrari (NYSE:RACE)

Logan Capital Management Inc. lessened its holdings in Ferrari (NYSE:RACE) by 14.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,919 shares of the company’s stock after selling 662 shares during the period. Logan Capital Management Inc.’s holdings in Ferrari were worth $1,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Ferrari by 6.1% during the 3rd quarter. Barclays PLC now owns 286,564 shares of the company’s stock valued at $134,719,000 after acquiring an additional 16,428 shares during the last quarter. Franklin Resources Inc. lifted its position in Ferrari by 60.0% during the third quarter. Franklin Resources Inc. now owns 22,055 shares of the company’s stock valued at $10,707,000 after purchasing an additional 8,267 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Ferrari by 8.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,539 shares of the company’s stock worth $1,194,000 after buying an additional 194 shares in the last quarter. Paragon Advisors LLC increased its holdings in shares of Ferrari by 8.0% in the 4th quarter. Paragon Advisors LLC now owns 4,625 shares of the company’s stock worth $1,965,000 after buying an additional 342 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of Ferrari by 13.0% during the 4th quarter. Wedmont Private Capital now owns 539 shares of the company’s stock valued at $231,000 after buying an additional 62 shares in the last quarter.

Ferrari Price Performance

RACE opened at $487.33 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The stock’s 50 day simple moving average is $442.96 and its 200 day simple moving average is $446.51. The firm has a market cap of $118.12 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 4.43 and a beta of 1.13. Ferrari has a 1 year low of $391.54 and a 1 year high of $509.13.

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

Ferrari Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RACE shares. JPMorgan Chase & Co. dropped their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Finally, UBS Group increased their price target on shares of Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $526.25.

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.