Stegent Equity Advisors Inc. Invests $1.25 Million in Ferrari (NYSE:RACE)

Stegent Equity Advisors Inc. acquired a new position in shares of Ferrari (NYSE:RACE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,935 shares of the company's stock, valued at approximately $1,247,000. Ferrari makes up approximately 1.3% of Stegent Equity Advisors Inc.'s portfolio, making the stock its 29th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elite Wealth Management Inc. raised its position in Ferrari by 1.0% in the 3rd quarter. Elite Wealth Management Inc. now owns 2,606 shares of the company's stock valued at $1,225,000 after purchasing an additional 25 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Ferrari by 13.6% in the third quarter. Addison Advisors LLC now owns 217 shares of the company's stock valued at $102,000 after buying an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ferrari by 10.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock valued at $140,000 after buying an additional 30 shares during the last quarter. Caprock Group LLC lifted its position in Ferrari by 1.7% during the 3rd quarter. Caprock Group LLC now owns 1,823 shares of the company's stock worth $857,000 after buying an additional 31 shares in the last quarter. Finally, EWA LLC grew its holdings in Ferrari by 6.6% during the 3rd quarter. EWA LLC now owns 518 shares of the company's stock worth $228,000 after acquiring an additional 32 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RACE shares. Barclays downgraded shares of Ferrari from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, February 5th. UBS Group boosted their price objective on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Finally, StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $507.14.

Ferrari Trading Up 0.9 %

Shares of Ferrari stock traded up $3.97 on Friday, hitting $464.47. 572,775 shares of the company's stock traded hands, compared to its average volume of 372,951. Ferrari has a one year low of $399.27 and a one year high of $509.13. 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 has a market capitalization of $113.21 billion, a PE ratio of 50.76, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The firm's 50-day moving average price is $449.85 and its two-hundred day moving average price is $457.01.

Ferrari Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio (DPR) is 5.63%.

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.