Ferrari (NYSE:RACE) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its position in Ferrari (NYSE:RACE) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,020 shares of the company’s stock after selling 241 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ferrari were worth $1,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HBK Sorce Advisory LLC raised 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 buying an additional 22 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Ferrari by 4.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 591 shares of the company’s stock worth $251,000 after purchasing an additional 25 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Ferrari by 10.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 329 shares of the company’s stock valued at $140,000 after purchasing an additional 30 shares during the period. EWA LLC boosted its holdings in Ferrari by 6.6% in the third quarter. EWA LLC now owns 518 shares of the company’s stock valued at $228,000 after purchasing an additional 32 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its holdings in Ferrari by 8.5% in the third quarter. Icon Wealth Advisors LLC now owns 436 shares of the company’s stock valued at $205,000 after purchasing an additional 34 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RACE shares. StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Kepler Capital Markets upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Ferrari currently has an average rating of “Moderate Buy” and a consensus target price of $497.86.

Ferrari Price Performance

Shares of Ferrari stock opened at $429.93 on Friday. The stock has a market capitalization of $104.21 billion, a P/E ratio of 46.99, a PEG ratio of 4.43 and a beta of 0.94. The business has a 50 day simple moving average of $456.00 and a two-hundred day simple moving average of $452.46. 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 company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd will be paid a $3.1265 dividend. This is an increase from Ferrari’s previous annual dividend of $2.44. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. 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.