Mutual of America Capital Management LLC Increases Stock Position in Ferrari (NYSE:RACE)

Mutual of America Capital Management LLC raised its stake in Ferrari (NYSE:RACE - Free Report) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,517 shares of the company's stock after buying an additional 1,232 shares during the quarter. Mutual of America Capital Management LLC's holdings in Ferrari were worth $10,029,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Ferrari by 29.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,500 shares of the company's stock worth $1,179,000 after purchasing an additional 570 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Ferrari by 11.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,345 shares of the company's stock worth $1,102,000 after acquiring an additional 241 shares during the period. US Bancorp DE boosted its holdings in Ferrari by 1.7% in the third quarter. US Bancorp DE now owns 16,483 shares of the company's stock valued at $7,750,000 after purchasing an additional 282 shares during the period. Farther Finance Advisors LLC grew its stake in Ferrari by 83.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 728 shares of the company's stock worth $342,000 after purchasing an additional 331 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Ferrari by 4.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 69,257 shares of the company's stock valued at $32,559,000 after purchasing an additional 2,722 shares in the last quarter.

Ferrari Stock Performance

NYSE RACE traded down $1.19 on Wednesday, reaching $458.40. The stock had a trading volume of 573,784 shares, compared to its average volume of 279,680. 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 stock has a market cap of $111.10 billion, a P/E ratio of 50.10, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. The business's 50-day moving average price is $451.53 and its 200 day moving average price is $457.11. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13.

Ferrari Increases Dividend

The business also recently disclosed 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 represents a yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is presently 5.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Barclays lowered Ferrari from an "overweight" rating to an "equal weight" rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research note on Thursday, February 6th. They set a "hold" rating for the company. Finally, StockNews.com lowered shares of Ferrari from a "buy" rating to a "hold" rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Ferrari presently has a consensus rating of "Moderate Buy" and a consensus target price of $507.14.

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.