Ferrari (NYSE:RACE) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. lowered its position in Ferrari (NYSE:RACE) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the 4th quarter worth $26,000. Armstrong Advisory Group Inc. lifted its holdings in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after buying an additional 50 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Ferrari during the 4th quarter worth about $45,000. Hobbs Group Advisors LLC purchased a new position in shares of Ferrari in the 3rd quarter valued at about $47,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Ferrari during the 4th quarter worth about $53,000.

Ferrari Stock Down 3.9 %

Shares of Ferrari stock opened at $414.50 on Friday. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company has a market cap of $100.47 billion, a P/E ratio of 45.30, a PEG ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. The firm has a fifty day moving average of $455.45 and a two-hundred day moving average of $451.05.

Ferrari Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This is a boost 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 dividend payout ratio is currently 5.63%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a report on Thursday, February 6th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $490.29.

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.