Ferrari (NYSE:RACE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Ferrari (NYSE:RACE) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,528 shares of the company’s stock after selling 181 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ferrari were worth $1,146,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Ferrari by 380.7% during 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 during the last quarter. Corient Private Wealth LLC lifted its holdings in Ferrari by 1,226.4% in the 4th quarter. Corient Private Wealth LLC now owns 132,694 shares of the company’s stock valued at $56,153,000 after purchasing an additional 122,690 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Ferrari by 83.7% in the 3rd quarter. Quadrature Capital Ltd now owns 231,279 shares of the company’s stock valued at $108,417,000 after purchasing an additional 105,390 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of Ferrari during the 3rd quarter worth about $43,801,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ferrari during the fourth quarter worth about $27,657,000.

Ferrari Trading Down 0.2 %

NYSE RACE opened at $428.71 on Tuesday. The firm has a market capitalization of $103.91 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 4.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.55 and a current ratio of 4.57. Ferrari has a one year low of $399.27 and a one year high of $509.13. The company’s 50 day moving average price is $455.85 and its 200 day moving average price is $451.90.

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 paid a $3.1265 dividend. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio (DPR) is currently 5.63%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays upgraded shares of Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday. Kepler Capital Markets upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Friday. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $497.86.

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.