Stifel Financial Corp Sells 3,292 Shares of Ferrari (NYSE:RACE)

Stifel Financial Corp lowered its stake in Ferrari (NYSE:RACE - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,567 shares of the company's stock after selling 3,292 shares during the quarter. Stifel Financial Corp's holdings in Ferrari were worth $23,184,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Ferrari in the fourth quarter worth $697,226,000. Barclays PLC boosted its holdings in Ferrari by 198.0% in the fourth quarter. Barclays PLC now owns 853,971 shares of the company's stock valued at $362,802,000 after purchasing an additional 567,407 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Ferrari by 62.1% in the 4th quarter. Marshall Wace LLP now owns 1,358,467 shares of the company's stock valued at $579,561,000 after buying an additional 520,337 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Ferrari by 380.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 243,306 shares of the company's stock valued at $107,770,000 after acquiring an additional 192,694 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Ferrari by 1,226.4% during the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company's stock worth $56,153,000 after buying an additional 122,690 shares during the last quarter.

Ferrari Trading Down 0.6 %

RACE stock traded down $2.86 during mid-day trading on Monday, reaching $457.94. 330,485 shares of the stock traded hands, compared to its average volume of 328,921. 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 company has a market cap of $110.99 billion, a P/E ratio of 50.05, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a 52-week low of $391.54 and a 52-week high of $509.13. The stock's fifty day moving average is $445.37 and its 200-day moving average is $447.11.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be issued a dividend of $3.1265 per share. This represents a dividend yield of 0.5%. This is a positive change from Ferrari's previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. Ferrari's dividend payout ratio (DPR) is currently 5.63%.

Analyst Upgrades and Downgrades

RACE has been the topic of several recent research reports. UBS Group dropped their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a research note on Friday, March 28th. StockNews.com raised shares of Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a report on Friday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a report on Thursday, February 6th. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus target price of $481.60.

About Ferrari

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.