Pictet Asset Management Holding SA cut its holdings in shares of Ferrari (NYSE:RACE - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 457,693 shares of the company's stock after selling 4,820 shares during the period. Pictet Asset Management Holding SA owned 0.19% of Ferrari worth $195,442,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of RACE. 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 during the period. Citizens Financial Group Inc. RI grew its stake in Ferrari by 4.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company's stock valued at $251,000 after acquiring an additional 25 shares during the last quarter. PDS Planning Inc grew its position in shares of Ferrari by 4.8% in the fourth quarter. PDS Planning Inc now owns 589 shares of the company's stock valued at $250,000 after purchasing an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ferrari by 10.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company's stock worth $140,000 after purchasing an additional 30 shares in the last quarter. Finally, EWA LLC lifted its stake in Ferrari by 6.6% in the 3rd quarter. EWA LLC now owns 518 shares of the company's stock valued at $228,000 after buying an additional 32 shares in the last quarter.
Ferrari Trading Up 1.1 %
Shares of RACE traded up $4.61 during mid-day trading on Tuesday, reaching $432.49. The company had a trading volume of 188,756 shares, compared to its average volume of 305,426. The stock has a market cap of $104.83 billion, a price-to-earnings ratio of 47.26, a price-to-earnings-growth 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. The firm has a fifty day simple moving average of $455.85 and a 200-day simple moving average of $451.90. Ferrari has a fifty-two week low of $399.27 and a fifty-two week high of $509.13.
Ferrari Increases Dividend
The company also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is presently 5.63%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Kepler Capital Markets raised Ferrari from a "hold" rating to a "buy" rating in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating on the stock. Barclays upgraded shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, UBS Group lowered their target price 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $498.86.
Check Out Our Latest Stock Analysis on RACE
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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