Ferrari (NYSE:RACE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Ferrari (NYSE:RACE) by 56.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,302 shares of the company’s stock after selling 25,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Ferrari were worth $6,532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. PDS Planning Inc bought a new position in Ferrari during the 4th quarter worth approximately $217,000. Duality Advisers LP boosted its holdings in Ferrari by 50.2% in the fourth quarter. Duality Advisers LP now owns 17,878 shares of the company’s stock worth $6,050,000 after purchasing an additional 5,974 shares during the period. LRT Capital Management LLC bought a new stake in Ferrari during the fourth quarter valued at $248,000. CWM LLC increased its stake in Ferrari by 9.5% during the fourth quarter. CWM LLC now owns 530 shares of the company’s stock valued at $179,000 after purchasing an additional 46 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Ferrari by 9.6% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,309 shares of the company’s stock worth $781,000 after purchasing an additional 202 shares during the period.

Ferrari Trading Up 1.3 %

NYSE:RACE opened at $430.16 on Friday. Ferrari has a 1 year low of $283.20 and a 1 year high of $442.80. The business has a fifty day moving average of $421.97 and a 200-day moving average of $374.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. The stock has a market cap of $79.47 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 3.18 and a beta of 0.98.

Ferrari (NYSE:RACE) last announced its earnings results on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. Equities analysts predict that Ferrari will post 8.31 earnings per share for the current year.

Ferrari Announces Dividend

The business also recently declared an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were paid a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd. Ferrari’s dividend payout ratio is currently 6.91%.

Analyst Ratings Changes

RACE has been the subject of a number of recent research reports. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Citigroup downgraded Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Bank of America raised their target price on Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI boosted their price target on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferrari currently has a consensus rating of “Hold” and a consensus price target of $413.86.

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.