Sequoia Financial Advisors LLC Acquires 40 Shares of Ferrari (NYSE:RACE)

Sequoia Financial Advisors LLC raised its holdings in shares of Ferrari (NYSE:RACE) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,247 shares of the company’s stock after purchasing an additional 40 shares during the period. Sequoia Financial Advisors LLC’s holdings in Ferrari were worth $1,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Jamison Private Wealth Management Inc. bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Ferrari during the second quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Ferrari by 320.0% during the fourth 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 in the last quarter. Blue Trust Inc. boosted its holdings in Ferrari by 37.0% in the fourth quarter. Blue Trust Inc. now owns 111 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Ferrari in the fourth quarter worth approximately $38,000.

Ferrari Stock Performance

Shares of Ferrari stock opened at $410.40 on Friday. The company’s fifty day simple moving average is $413.95 and its 200-day simple moving average is $363.34. Ferrari has a 1-year low of $272.70 and a 1-year high of $442.80. 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 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 net margin of 21.06% and a return on equity of 43.84%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. On average, equities analysts anticipate that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

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

Analyst Ratings Changes

RACE has been the topic of several research reports. UBS Group raised their target price on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Bank of America raised their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Finally, Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a report on Monday, March 4th. 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 MarketBeat, Ferrari has a consensus rating of “Hold” and an average target price of $363.57.

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.