Callan Family Office LLC Acquires New Shares in Ferrari (NYSE:RACE)

Callan Family Office LLC bought a new stake in shares of Ferrari (NYSE:RACE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,122 shares of the company's stock, valued at approximately $477,000.

Several other large investors have also added to or reduced their stakes in RACE. Sapient Capital LLC boosted its holdings in shares of Ferrari by 1.0% during the 4th quarter. Sapient Capital LLC now owns 67,322 shares of the company's stock worth $28,737,000 after buying an additional 653 shares in the last quarter. Cerity Partners LLC boosted its stake in Ferrari by 14.0% during the third quarter. Cerity Partners LLC now owns 26,915 shares of the company's stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Allworth Financial LP grew its holdings in Ferrari by 35.1% in the fourth quarter. Allworth Financial LP now owns 327 shares of the company's stock worth $141,000 after purchasing an additional 85 shares during the period. Bank of New York Mellon Corp increased its stake in Ferrari by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,612,108 shares of the company's stock valued at $684,888,000 after purchasing an additional 38,356 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ferrari by 156.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company's stock valued at $2,731,000 after purchasing an additional 3,900 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RACE shares. StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Barclays downgraded Ferrari from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $507.14.

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Ferrari Price Performance

RACE traded down $12.26 during midday trading on Monday, hitting $437.30. The stock had a trading volume of 515,752 shares, compared to its average volume of 282,354. The company has a market cap of $105.99 billion, a P/E ratio of 47.79, a price-to-earnings-growth 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. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The business has a fifty day moving average of $452.18 and a 200 day moving average of $456.73.

Ferrari Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari's dividend payout ratio is presently 5.63%.

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.