Avantax Advisory Services Inc. Sells 315 Shares of Ferrari (NYSE:RACE)

Avantax Advisory Services Inc. decreased its holdings in Ferrari (NYSE:RACE) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,300 shares of the company’s stock after selling 315 shares during the period. Avantax Advisory Services Inc.’s holdings in Ferrari were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in Ferrari by 7.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,454 shares of the company’s stock valued at $1,154,000 after buying an additional 168 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Ferrari by 3.8% during the third quarter. OneDigital Investment Advisors LLC now owns 3,078 shares of the company’s stock worth $1,447,000 after acquiring an additional 113 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in Ferrari during the third quarter valued at $218,000. Mutual of America Capital Management LLC increased its holdings in Ferrari by 20.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 22,285 shares of the company’s stock valued at $10,445,000 after acquiring an additional 3,824 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Ferrari by 63.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,709 shares of the company’s stock worth $1,274,000 after purchasing an additional 1,051 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RACE. Deutsche Bank Aktiengesellschaft started coverage on Ferrari in a research report on Thursday, February 6th. They set a “hold” rating for the company. StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Barclays cut Ferrari from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Price Performance

NYSE:RACE opened at $454.62 on Tuesday. The firm has a market capitalization of $110.19 billion, a price-to-earnings ratio of 49.68, a PEG 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. The business has a 50 day simple moving average of $454.94 and a 200-day simple moving average of $455.09. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13.

Ferrari Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $3.1265 per share. This represents a yield of 0.5%. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date is Wednesday, April 23rd. 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.