CIBC Private Wealth Group LLC grew its stake in shares of Ferrari (NYSE:RACE - Free Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,787 shares of the company's stock after buying an additional 5,761 shares during the period. CIBC Private Wealth Group LLC owned 0.07% of Ferrari worth $70,965,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. HBK Sorce Advisory LLC increased its position in Ferrari by 3.6% during the 4th quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock worth $266,000 after purchasing an additional 22 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Ferrari by 4.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock worth $251,000 after purchasing an additional 25 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Ferrari by 4.8% during the fourth quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after buying an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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. Finally, EWA LLC raised its position in shares of Ferrari by 6.6% in the third quarter. EWA LLC now owns 518 shares of the company's stock valued at $228,000 after buying an additional 32 shares during the last quarter.
Ferrari Trading Down 1.1 %
NYSE:RACE traded down $4.90 on Thursday, hitting $433.64. 343,703 shares of the stock were exchanged, compared to its average volume of 308,881. The stock has a fifty day moving average of $455.78 and a 200-day moving average of $451.54. The stock has a market cap of $105.10 billion, a PE ratio of 47.39, a PEG ratio of 4.43 and a beta of 0.94. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13.
Ferrari Increases Dividend
The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari's previous annual dividend of $2.44. Ferrari's dividend payout ratio is 5.63%.
Wall Street Analyst Weigh In
Several research firms have commented on RACE. JPMorgan Chase & Co. lowered their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferrari in a report on Thursday, February 6th. They set a "hold" rating on the stock. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. Finally, UBS Group dropped their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $490.29.
View Our Latest Report on Ferrari
About Ferrari
(
Free Report)
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.
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