Edmond DE Rothschild Holding S.A. decreased its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,125 shares of the company's stock after selling 622 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Ferrari were worth $5,195,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. HBK Sorce Advisory LLC boosted its holdings in Ferrari by 3.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 626 shares of the company's stock worth $266,000 after buying 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 acquiring an additional 25 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Ferrari by 4.8% in the 4th quarter. PDS Planning Inc now owns 589 shares of the company's stock worth $250,000 after acquiring an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after purchasing an additional 30 shares during the period. Finally, EWA LLC raised its position in shares of Ferrari by 6.6% during the third quarter. EWA LLC now owns 518 shares of the company's stock worth $228,000 after purchasing an additional 32 shares during the period.
Wall Street Analysts Forecast Growth
RACE has been the subject of a number of analyst reports. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. UBS Group lowered their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Ferrari currently has an average rating of "Moderate Buy" and an average target price of $498.86.
View Our Latest Stock Report on RACE
Ferrari Stock Up 1.8 %
Shares of Ferrari stock traded up $7.79 during trading on Wednesday, hitting $438.40. 598,249 shares of the stock traded hands, compared to its average volume of 308,552. The stock has a market cap of $106.26 billion, a P/E ratio of 47.91, a PEG ratio of 4.43 and a beta of 0.94. The company has a fifty day moving average price of $455.66 and a two-hundred day moving average price of $451.63. Ferrari has a twelve month low of $399.27 and a twelve month high of $509.13. 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 Increases Dividend
The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari's previous annual dividend of $2.44. This represents a yield of 0.5%. Ferrari's payout ratio is 5.63%.
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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