D.A. Davidson & CO. Cuts Stock Holdings in Ferrari (NYSE:RACE)

D.A. Davidson & CO. reduced its position in shares of Ferrari (NYSE:RACE) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,223 shares of the company’s stock after selling 121 shares during the period. D.A. Davidson & CO.’s holdings in Ferrari were worth $520,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RACE. Hanson & Doremus Investment Management purchased a new position in Ferrari during the fourth quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Ferrari during the third quarter worth about $29,000. Planning Capital Management Corp purchased a new position in Ferrari during the third quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in Ferrari during the third quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. raised its holdings in Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock worth $42,000 after purchasing an additional 50 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research report on Thursday, February 6th. They set a “hold” rating on the stock. Finally, StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ferrari presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Up 1.1 %

RACE stock opened at $504.95 on Wednesday. The company’s 50 day simple moving average is $447.27 and its 200-day simple moving average is $456.36. The firm has a market capitalization of $123.08 billion, a PE ratio of 55.19, a P/E/G ratio of 4.43 and a beta of 0.95. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55.

Ferrari Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. Ferrari’s dividend payout ratio is currently 5.63%.

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.