Ferrari (NYSE:RACE) Position Reduced by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,713 shares of the company's stock after selling 695 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Ferrari were worth $3,277,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RACE. Hanson & Doremus Investment Management acquired a new position in shares of Ferrari during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its stake in Ferrari by 100.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company's stock valued at $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC bought a new position in Ferrari in the 4th quarter worth about $45,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ferrari in the third quarter valued at approximately $47,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Ferrari during the fourth quarter valued at approximately $53,000.

Ferrari Price Performance

RACE stock traded down $6.07 on Thursday, hitting $432.47. 475,895 shares of the company's stock traded hands, compared to its average volume of 309,278. The stock has a market cap of $104.82 billion, a price-to-earnings ratio of 47.12, a P/E/G ratio of 4.43 and a beta of 0.94. Ferrari has a 1-year low of $399.27 and a 1-year high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average of $455.78 and a 200-day moving average of $451.54.

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Ferrari Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $3.1265 per share. This represents a dividend 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 Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays raised Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. UBS Group reduced their price objective on shares of Ferrari from $584.00 to $520.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Ferrari from $525.00 to $460.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ferrari presently has an average rating of "Moderate Buy" and a consensus target price of $490.29.

Ferrari Company 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.