Thoroughbred Financial Services LLC Has $3.13 Million Holdings in Ferrari (NYSE:RACE)

Thoroughbred Financial Services LLC lifted its stake in Ferrari (NYSE:RACE - Free Report) by 65.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,361 shares of the company's stock after acquiring an additional 2,902 shares during the period. Thoroughbred Financial Services LLC's holdings in Ferrari were worth $3,127,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages recently commented on RACE. UBS Group decreased their price target on Ferrari from $584.00 to $520.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Barclays raised shares of Ferrari from an "equal weight" rating to an "overweight" rating in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price target 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. StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Kepler Capital Markets upgraded Ferrari from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Ferrari currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.29.

Ferrari Stock Performance

Shares of NYSE:RACE traded down $18.75 on Monday, hitting $396.11. The company had a trading volume of 691,803 shares, compared to its average volume of 315,116. The stock has a 50 day moving average price of $455.45 and a 200 day moving average price of $450.92. 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 market cap of $96.01 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 4.43 and a beta of 1.03. Ferrari has a 1-year low of $392.34 and a 1-year high of $509.13.

Ferrari Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Wednesday, April 23rd will be given a $3.1265 dividend. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a boost from Ferrari's previous annual dividend of $2.44. Ferrari's payout ratio is presently 5.63%.

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.