Rhumbline Advisers Trims Position in Ferrari (NYSE:RACE)

Rhumbline Advisers decreased its position in shares of Ferrari (NYSE:RACE) by 32.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,273 shares of the company’s stock after selling 620 shares during the period. Rhumbline Advisers’ holdings in Ferrari were worth $541,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sapient Capital LLC raised its stake in Ferrari by 1.0% during the fourth quarter. Sapient Capital LLC now owns 67,322 shares of the company’s stock worth $28,737,000 after purchasing an additional 653 shares during the period. Cerity Partners LLC increased its position in shares of Ferrari by 14.0% in the third quarter. Cerity Partners LLC now owns 26,915 shares of the company’s stock worth $12,653,000 after acquiring an additional 3,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ferrari by 156.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,400 shares of the company’s stock worth $2,731,000 after acquiring an additional 3,900 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Ferrari by 123.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,005 shares of the company’s stock worth $3,826,000 after acquiring an additional 4,983 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its position in shares of Ferrari by 24.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 9,071 shares of the company’s stock worth $3,874,000 after acquiring an additional 1,796 shares in the last quarter.

Ferrari Price Performance

Shares of RACE stock opened at $450.14 on Friday. The firm has a market cap of $109.10 billion, a P/E ratio of 49.20, a P/E/G ratio of 4.43 and a beta of 0.94. 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 has a 1-year low of $399.27 and a 1-year high of $509.13. The firm has a fifty day moving average of $452.18 and a two-hundred day moving average of $456.88.

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. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Ferrari’s dividend payout ratio (DPR) is presently 5.63%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RACE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a report on Thursday, February 6th. They set a “hold” rating for the company. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ferrari presently has an average rating of “Moderate Buy” and an average target price of $507.14.

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.